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

Page_16-07-31_17-16-15

 

 

a look at mirror image foldbacks and Natural Gas

 

Wanted to do a follow up on some Natural Gas questions that have hit the blog.  THANKS FOR ASKING

The chart below is back from August and it showed the completion of a “large” AB=CD PATTERN and then a BUTTERFLY PATTERN appeared and held.  The natural flow of things calls for a BUY once a key retracement level is reached.  So, we are approaching the .786 level as shown and believe that should be respected.

NAT GAS August 2014

Additionally, when I do mirror image foldbacks I try to recognize (try being the operative word) the last major correction that happened in the past and then see how that lines up w/ the rhythm/balance of the chart.  Some charts below will show that concept: JEC, Silver and the US Dollar.

The “real” reason for the foldbacks is, believe it or not, planetary in nature.  It “usually” involves a combination of 2 planets moving in/out towards conjunctions OR a big planet going retrograde.  It’s hard to find the right combo or pair so, frankly, I just go w/ what looks good to the eye and then look for a PATTERN and SENTIMENT that makes sense.

First chart is JEC … the first chart was showing the parabolic nature of the move and how it was pretty much done.  Now, note the very nice symmetry of the move down from the high.  so that “last” move up going from the top and down left to right is EXACTLY equal to the move in the “current” time and the “are we here.” Rest was history …

Exhibit 1 JEC Exhibit 2 JEC Exhibit 3 JEC

Here’s SILVER ….buy at 8 and foldback up the big plunge down.  Forecast was upper 40’s.  IF IT WAS THE CORRECT POINT.  We NEVER know …this one worked.

Exhibit 1 November 9 Silver

Here’s my favorite on a LONG TERM MONTHLY of the US Dollar.  Study this one …this chart below has NOTHING to do w/ the global macro fundamentals and EVERYTHING about the PATTERN.

april-2011-us-dollar

 

If you’ve been following my posts on http://www.seeitmarket.com (@seeitmarket) then you’ll know that I’m watching the current area on YHOO and have noticed a POTENTIAL intraday foldback appearing.  (http://www.seeitmarket.com/yahoo-yhoo-topping-pattern-still-play-13929/)

Main20141231113616

so where does this leave us w/ NAT GAS? if you look at the chart below, you’ll see the 2.903 level as a key level based on 1) the .786 retracement and  the measured move down that completes the foldback. That is what I’m watching….

hope this helps and let me know if you have any more questions.

HAPPY NEW YEAR!

Bart

 


so far, it’s been a very nice and symmetrical move in Natural Gas futures …

if (the big if) the mirror image is at play THEN either 1) here or 2) a little lower and we should see Natural Gas foldback up the blue arrow shown by the “we are here (?)” in the middle of the chart.

NOBODY believed me when we said BUY Silver at 8 and it could go to 48.  They didn’t believe me when they should take profit either…just PATTERNS folks.

So, if this is correct, Natural Gas is getting ready to explode.

Main20141229171438

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Natural Gas Mirror Image Foldback ($UNG)

so far, it’s been a very nice and symmetrical move in Natural Gas futures …

if (the big if) the mirror image is at play THEN either 1) here or 2) a little lower and we should see Natural Gas foldback up the blue arrow shown by the “we are here (?)” in the middle of the chart.

NOBODY believed me when we said BUY Silver at 8 and it could go to 48.  They didn’t believe me when they should take profit either…just PATTERNS folks.

So, if this is correct, Natural Gas is getting ready to explode.

Main20141229171438

Main20141229173139