Londinia Opportunities Analyses - 05/16/2024 (GMT) NATURAL GAS - 1H

- USD (-)

- 10 min delayed data - NYMEX Futures

Type:	Commodities
Ticker:	NG
ISIN:

Londinia

I am delighted to see that my first price objective has been achieved. I hope you've taken advantage of it.

FX/Indices
Timeframe : 1H
- Analysis generated on
Status : TARGET REACHED

Summary of the analysis

Trends

Short term: Strongly bullish

Underlying: Strongly bullish

Technical indicators

72%

11%

17%

My opinion

Bullish above 2.464 USD

My targets

2.564 USD (+2.72%)

2.757 USD (+10.46%)

My analysis

NATURAL GAS is part of a very strong bullish trend. Traders may consider trading only long positions (at the time of purchase) as long as the price remains well above 2.464 USD. The next resistance located at 2.564 USD is the next bullish objective to be reached. A bullish break in this resistance would boost the bullish momentum. The bullish movement could then continue towards the next resistance located at 2.757 USD. After this resistance, buyers could then target 3.341 USD. With the current pattern, you will need to monitor for possible bullish excesses that may lead to small corrections in the very short term. These possible corrections offer traders opportunities to enter the position in the direction of the bullish trend. Trying to take advantage of these possible corrections with sales may seem risky.

Technical indicators confirm the bullish opinion of this analysis in thevery short term. However, be careful of excessive bullish movements. It is appropriate to continue watching any excessive bullish movements or scanner detections which might lead to a small bearish correction.

Force

Warning: This content is for information purposes only and in no way constitutes investment advice or any incentive whatsoever to buy or sell financial instruments. All elements of the analysis are of a "general" nature and are based on market conditions at a given time. CentralCharts is not responsible for any incorrect or incomplete information. Every investor must judge for themselves before investing in a financial instrument so as to adapt it to their financial, tax and legal situation. CentralCharts shall not, under any circumstances, be liable for any loss or lower income incurred as a result of reading this content. Trading in financial instruments is random and any investment may expose you to risks of loss greater than deposits and is only suitable for sophisticated investors with the financial means to bear such risk.

Additional analysis

Quotes

The NATURAL GAS price is 2.496 USD. The price has increased by +3.31% since the last closing with the lowest point at 2.389 USD and the highest point at 2.575 USD. The deviation from the price is +4.48% for the low point and -3.07% for the high point.

2.389

2.575

2.496

A bearish opening was detected by the Central Gaps scanner. Sellers are trying to impose a bearish trend in the very short term.

Bearish opening

Type : Bearish

Timeframe : Openning

Here is a more detailed summary of the historical variations registered by NATURAL GAS:

The study of the highest / lowest by the Central Records scanner shows the following result:

New HIGH record (1 month)

Type : Bullish

Timeframe : Weekly

Technical

A technical analysis in 1H of this NATURAL GAS chart shows a strongly bullish trend. The signals given by the moving averages are 92.86% bullish. This strong bullish trend is confirmed by the strong signals currently being given by short-term moving averages. The Central Indicators scanner does not detect any result on moving averages that would impact this trend.

In fact, according to the parameters integrated into the Central Analyzer system, 13 technical indicators out of 18 analysed are currently bullish. Other results related to technical indicators were also found by the Central Indicators scanner:

Pivot points : price is over resistance 1

Type : Neutral

Timeframe : 1 hour

Pivot points : price is over resistance 2

Type : Neutral

Timeframe : Weekly

Parabolic SAR indicator bearish reversal

Type : Bearish

Timeframe : 1 hour

Williams %R indicator is back under -50

Type : Bearish

Timeframe : 1 hour

The analysis of the price chart with Central Patterns scanners does not return any result.

The Central Candlesticks scanner which studies Japanese candlesticks did not detect anything.

ProTrendLines

Price

	S3	S2	S1	Price	R1	R2	R3
ProTrendLines	2.313	2.397	2.464	2.496	2.757	3.341	3.801
Change (%)	-7.33%	-3.97%	-1.28%	-	+10.46%	+33.85%	+52.28%
Change	-0.183	-0.099	-0.032	-	+0.261	+0.845	+1.305
Level	Intermediate	Intermediate	Minor	-	Minor	Intermediate	Major

Attention could also be paid to pivot points to set price objectives:

Daily

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	2.234	2.273	2.345	2.384	2.456	2.495	2.567
Camarilla	2.386	2.396	2.406	2.416	2.426	2.436	2.447
Woodie	2.250	2.281	2.361	2.392	2.472	2.503	2.583
Fibonacci	2.273	2.316	2.342	2.384	2.427	2.453	2.495

Weekly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	1.931	2.032	2.142	2.243	2.353	2.454	2.564
Camarilla	2.194	2.213	2.233	2.252	2.271	2.291	2.310
Woodie	1.936	2.034	2.147	2.245	2.358	2.456	2.569
Fibonacci	2.032	2.113	2.162	2.243	2.324	2.373	2.454

Monthly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	1.444	1.677	1.804	2.037	2.164	2.397	2.524
Camarilla	1.833	1.866	1.899	1.932	1.965	1.998	2.031
Woodie	1.392	1.651	1.752	2.011	2.112	2.371	2.472
Fibonacci	1.677	1.814	1.899	2.037	2.174	2.259	2.397

Numerical data

The following is the status of the technical indicators and moving averages at the time of publication of this technical analysis:

Technical indicators

Moving averages

RSI (14):	56.96
MACD (12,26,9):	0.0270
Directional Movement:	18.867
AROON (14):	28.572
DEMA (21):	2.480
Parabolic SAR (0,02-0,02-0,2):	2.575
Elder Ray (13):	0.017
Super Trend (3,10):	2.425
Zig ZAG (10):	2.475
VORTEX (21):	1.1030
Stochastique (14,3,5):	50.36
TEMA (21):	2.492
Williams %R (14):	-52.15
Chande Momentum Oscillator (20):	0.079
Repulse (5,40,3):	-0.4010
ROCnROLL:	1
TRIX (15,9):	0.1380
Courbe Coppock:	5.71

MA7:	2.337
MA20:	2.155
MA50:	2.151
MA100:	2.367
MAexp7:	2.478
MAexp20:	2.446
MAexp50:	2.405
MAexp100:	2.358
Price / MA7:	+6.80%
Price / MA20:	+15.82%
Price / MA50:	+16.04%
Price / MA100:	+5.45%
Price / MAexp7:	+0.73%
Price / MAexp20:	+2.04%
Price / MAexp50:	+3.78%
Price / MAexp100:	+5.85%

Quotes : - 10 min delayed data - Futures NYMEX

News

The latest news and videos published on NATURAL GAS at the time of the analysis were as follows: