Natural gas analysis today on December 23, 2022 as we try to bounce after natural gas has declined by 32% in 8 trading days. This means natural gas prices are due for a bounce and maybe one that may last even 1-2 days. Natural gas price continues the downtrend on the daily and weekly chart so this is likely to be a lower high before a move down to $3.60 in early 2023.
We take a detailed look at price action on the hourly natural gas chart, the 15 minute natural gas chart, the 5 minute natural gas chart and event the 15 second natural gas chart! We show how to tactically examine a trade and analyze how to set a stop loss based on market structure and price action. Very clear actionable signals and education so you an learn how to read price action and market structure.
We review intraday charts in this video including the hourly and 15 minute charts to show examples of how to set up a trade and conduct trend analysis on these smaller time frames using lower time frame charts.
The natural gas price forecast is $3.60 by early 2023 based on the current price action and it will be a question of how strong a rebound there is from those lows. That will put pressure on the ETF stocks that track natural gas as they will make new lows as well so we look at a BOIL stock price forecast and UNG stock price forecast.
We use technical analysis to review BOIL stock price analysis and UNG stock analysis to see what levels they may reach as part of this decline.
We use technical analysis to determine a price forecast for both BOIL stock and UNG stock which are usually used for trading purposes to get exposure to natural gas futures upside. We review the natural gas price chart on multiple time frames including the monthly natural gas price chart, the weekly natural gas price chart and the daily natural gas price chart.
Weather forecasts are anticipating record cold temperatures which would imply higher prices. We focus on using the natural gas price chart to give us an advantage over trying to follow the "news".
Natural gas trading strategies can be built around cycles analysis especially when it's informed by price action making it a superior form of natural gas technical analysis. In this video we review the current cycle counts including the most relevant which is the daily cycle. We are on day 4 so it's relatively early in the cycle but in bearish cycles we could get a top very early so caution is warranted. We discuss what we need to see on higher time frames as well to confirm we may be putting an end the the monthly and weekly downtrend.
These insights apply for liquefied natural gas (LNG) which is the most common form of the commodity. This is also referred to as liquid natural gas. This commodity is used for heating and other applications.
We review the long term cycles for natural gas using the price chart to understand when we might see the next major low which would be a buying opportunity
Previous videos review the following energy stocks but we will include others in the future:
1) UNG stock analysis
2) BOIL stock analysis
3) XLE stock analysis
4) XOM stock analysis
5) Phillips 66 stock analysis (PSX)
6) OIH stock analysis
7) Conoco Phillips stock analysis (COP)
8) Devon Energy stock analysis (DVN)
9) Marathon Oil stock analysis (MRO)
10) Chevron stock analysis (CVX)
We use technical analysis and price action to decipher how different cycles might play out on the daily, weekly and monthly chart into early 2023 as we approach the 3-year cycle low for natural gas
Natural gas technical analysis will keep you ahead of the trend and understanding what direction price is moving in.
Price action is reviewed on multiple time frames to best anticipate the current direction and identify reversals in real time.
Use a price action based cycles approach to mitigate risk and maximize returns. #naturalgaslivetrading #naturalgastrading #natgas
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Previous natural gas technical analysis video: https://youtu.be/TWmeCjQIHLg
How to spot a Swing High: https://youtu.be/DHsVB7KVPjw
How to spot a market bottom: https://youtu.be/pPZw_Kg3ElQ
Cycles 101 blog post: https://mirror.xyz/swingtrading.eth/bYCnOxFLsB4GTgCPmJKzNrH34_1XfuLepCSMcIgMv-Y
Cycles 101(from Jan. 2022): https://youtu.be/eXrGKifeDUY
Cycles 101(from Oct. 2022): https://youtu.be/wKIzZiLtuL8
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