Natural Gas carving out a low?

08/05/2017 – was asked to take a look at NATGAS again … I still feel we are in a consolidative or bottoming period.  and the “we are here” from my last post is still valid.

  • note we have a head and shoulders forming .. key support is the .786 at 2.713 and then the neckline around 2.51-2.57
  • we have a buy pattern in/around 1.953-2.139.
  • note, the apex to neckline projection takes us below the all time low in/around 1.621.
  • roll /w the buy pattern and then use the all time low as the shaded red box defining risk? Perhaps …?

as for UNG – note the last post had a pretty nice BUY pattern and it hit then tallied up to the 9.45 area.  sure looks like a BUY in/around here w/ a stop out below 5.75 could be a play IF this is going to rally.

hope this helps ..

 


 

folks, for those of you have been following me for a while you know that sometimes you eat the bar and sometimes the bar eats you.  (man I love that movie … the Big Labowski)

anyway, the “bar has eaten me” on Natural Gas. I played w/ a foldback pattern that REALLY looked nice and it basically failed below the levels – BUT  the PATTERN still appears to be working …perhaps?

either way, I think we have a big low in place on Natural Gas and I haven’t looked at it for a WHILE after it kicked my butt.  looking at it today – I see another potential foldback potential.

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man, I wish I had more data on Natural Gas prices …

here’s the “other” foldback that kicked my ass …the form and symmetry sure look nice, don’t they? If right, natgas is about to rip higher ..

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here’s a look at $UNG

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Natural Gas (NATGAS) NG #F

folks, for those of you have been following me for a while you know that sometimes you eat the bar and sometimes the bar eats you.  (man I love that movie … the Big Labowski)

anyway, the “bar has eaten me” on Natural Gas. I played w/ a foldback pattern that REALLY looked nice and it basically failed below the levels – BUT  the PATTERN still appears to be working …perhaps?

either way, I think we have a big low in place on Natural Gas and I haven’t looked at it for a WHILE after it kicked my butt.  looking at it today – I see another potential foldback potential.

Page_16-07-31_17-07-51

man, I wish I had more data on Natural Gas prices …

here’s the “other” foldback that kicked my ass …the form and symmetry sure look nice, don’t they? If right, natgas is about to rip higher ..

Page_16-07-31_17-12-07

here’s a look at $UNG

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Natural Gas – another look

folks, the foldback failed .. it sure was a pretty set up down at the very very low price.  I’ve thrown a count up there and not too confident of the first part (the left portion) but what I do feel very confident about is the subdivisions of the current wave – which I have labeled 5.  The current move into the lows is certainly looking like a 3 and this move up (which is pretty strong by the way) is a 4 so we “should” have one more low in NAT GAS before a big counter trend rally.

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$PCLN and a potential mirror image fold back

have blogged about “mirror image foldbacks” before … when they work they are truly amazing.  do a “search” for Mirror Image Foldback on this site and you’ll see the work.  right now, it appears the Natural Gas Mirror Image Foldback is at risk of feeling … other than that, most have worked.

here’s the picture of a mirror image foldback for $JEC.  note the geometry of the parabolic blow off.  much like a LOT of stocks out there …

then, below these charts is the mirror image foldback for $PCLN.

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here’s the POTENTIAL mirror image appearing on $PCLN. Note, the second chart shows the “daily butterfly sell” that is “causing” this … this will be a very good one to watch.  These patterns all fail when the high is taken out .. all probability folks.

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