The Tide May Be Shifting for Natural Gas as it Crosses Below Its 50 Day Moving Average

The Hourly View for Natural Gas

  • Currently, NG1’s price is up $0.01 (0.28%) from the hour prior.
  • The hourly chart shows that Natural Gas has seen 2 straight up hours.
  • As for the trend on the hourly timeframe, we see the clearest trend on the 20 hour timeframe.
  • Price action traders may also wish to note that we see a doji candlestick pattern on Natural Gas. Given that we see an uptrend on the 20 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting.
  • 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

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  • It’s been a feast for bears operating on the daily timeframe, as Natural Gas has now gone down 9 of the past 10 days.
  • If you’re a trader with a preference for rangebound markets, you may wish to note that there isn’t a clear trend on the 20, 50 and 100 day timeframes.
  • Most noteworthy in the world of moving averages on the daily chart is that the 100, 20 and 50 day moving averages have been crossed, so that price is now turning above them. 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

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