Natural Gas is Up for the 2nd Day in a Row

The Hourly View for Natural Gas

  • At the time of this writing, NG1’s price is down $-0.01 (-0.18%) from the hour prior.
  • It’s been a feast for bears operating on an hourly timeframe, as Natural Gas has now gone down 4 of the past 5 hours.
  • Regarding the trend, note that the strongest trend exists on the 50 hour timeframe.
  • Price action traders may also wish to note that we see some doji and pin bar candlestick patterns on Natural Gas. Given that we see downtrend on the 20 and 10 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting.
  • Most noteworthy in the world of moving averages on the hourly chart is that the 50 hour moving average has been crossed, with price now being below it. The moving averages on the hourly timeframe suggest a bullishness in price, as the 20, 50, 100 and 200 are all in a bullish alignment — meaning the shorter durations are above the longer duration averages, implying a sound upward trend.

Natural Gas’s hourly price chart is shown below.

NG1

The Daily View for Natural Gas

  • Currently, NG1’s price is up $0.12 (2.38%) from the day prior.
  • It’s been a feast for bears operating on the daily timeframe, as Natural Gas has now gone down 26 of the past 30 days.
  • From a daily perspective, the market looks fairly choppy; clear trends aren’t showing up on the 20, 50 and 100 day timeframes.
  • The moving averages on the daily timeframe suggest a bullishness in price, as the 20, 50, 100 and 200 are all in a bullish alignment — meaning the shorter durations are above the longer duration averages, implying a sound upward trend.
  • Divergence between NG1’s price and its RSI may be manifesting. As such, be on the lookout for trend reversal in NG1’s price.

Below is a daily price chart of Natural Gas.

NG1