Natural Gas Snaps a 3 Day Up Streak

The Hourly View for Natural Gas

  • At the time of this writing, NG1’s price is down $0 (-0.02%) from the hour prior.
  • Natural Gas has seen its price go down 4 out of the past 5 hours, thus creating some compelling opportunities for bears.
  • As for the trend on the hourly timeframe, we see the clearest trend on the 100 hour timeframe.
  • Regarding moving averages, it should first be noted that price has crossed the 20 hour moving average, resulting in them so that price is now turning 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

  • At the moment, NG1’s price is down $-0.02 (-0.43%) from the day prior.
  • This move is a reversal from the day prior, which saw price move up.
  • If you’re a trend trader, consider that the strongest clear trend on the daily chart exists on the 100 day timeframe.
  • Price action traders may also wish to note that we see a pin bar candlestick pattern on Natural Gas. Given that we see an uptrend on the 20 daily candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting.
  • 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