• 6 minutes WTI @ 67.50, charts show $62.50 next
  • 11 minutes Saudi Fund Wants to Take Tesla Private?
  • 17 minutes Why hydrogen economics is does not work
  • 2 hours Starvation, horror in Venezuela
  • 1 hour The EU Loses The Principles On Which It Was Built
  • 22 mins Desperate Call or... Erdogan Says Turkey Will Boycott U.S. Electronics
  • 1 hour Crude Price going to $62.50
  • 17 hours Anyone Worried About the Lira Dragging EVERYTHING Else Down?
  • 1 hour WSJ *still* refuses to acknowledge U.S. Shale Oil industry's horrible economics and debts
  • 11 hours Chinese EV Startup Nio Files for $1.8 billion IPO
  • 22 hours Oil prices---Tug of War: Sanctions vs. Trade War
  • 22 hours Correlation does not equal causation, but they do tend to tango on occasion
  • 22 hours Russia retaliate: Our Response to U.S. Sanctions Will Be Precise And Painful
  • 1 day California Solar Mandate Based on False Facts
  • 1 day WTI @ 69.33 headed for $70s - $80s end of August
  • 24 hours Monsanto hit by $289 Million for cancerous weedkiller
Alt Text

Is This The Next Natural Gas Giant?

Nigeria has long been renowned…

Alt Text

Ghana Boosts Natural Gas Production

Momentum in Ghana’s hydrocarbons industry…

Jim Hyerczyk

Jim Hyerczyk

Fundamental and technical analyst with 30 years experience.

More Info

Trending Discussions

Is Natural Gas Poised For An Upside Breakout?

Natural Gas

My work suggests that the Natural Gas market may be poised for a strong rally this winter. The excessive supply has been trimmed because of the strong demand this summer and as producers cut output. Although we’re likely to see a steady flow of injections during the fall season, if this current monthly chart pattern can hold up, then going into the winter, we may be poised for an upside breakout.

This week, we’re going to take an early look at the March 2017 Natural Gas chart because we want to be able to take advantage of a move that takes place during the winter when demand will likely be higher because of the return of cold weather.

(Click to enlarge)

Technical Analysis

October begins with March Natural Gas futures market in an uptrend according to the monthly swing chart. The trend has been up since April when a rally took out a top at $2.953. The uptrend is going to resume when $3.422 is taken out. And will change to down when $3.111 is violated.

The main range is the June 2014 top at $4.606 to the February 2016 bottom at $2.468. Its retracement zone at $3.537 to $3.789 is the primary upside target.

The short-term range is $2.468 to $3.422. Its retracement zone is $2.945 to $2.832. This will be the primary downside target if the selling pressure is strong enough to take out the $3.111 main bottom.

Based on the current price at $3.367, the nearest Gann angle target is the downtrending angle $3.486. The nearest…

To read the full article

Please sign up and become a premium OilPrice.com member to gain access to read the full article.

RegisterLogin

Trending Discussions





Oilprice - The No. 1 Source for Oil & Energy News