NATGAS Natural Gas Analysis: ABCDE Pattern Confirmed! This Is What To Expect Next!

NATGAS Natural Gas Analysis: ABCDE Pattern Confirmed! This Is What To Expect Next!

hello my friends this is the video that
I made on natural gas Futures uh 6 days
ago when the price of this asset was at
$1.75 4 Mark and my main assumption was
that we were forming the ABCDE
correction it is a some kind of
symmetrical triangle and we were forming
the e-wave and right here as you can see
I drew this line by connecting three
bottoms and it was a perfect perfect
balance out of this line this was the
real range of support in this triangle
and my main assumption was that we
basically have two possibilities first
all we might see an underthrow movement
in ewave and from the point somewhere at
$1.8 we might have the next movement to
the downside the second option is the
overthrow of the ew and I showed you uh
it right here I didn’t do any changes by
the way I didn’t do any changes in
between my videos and and here you can
see that uh my first option worked
perfectly well we had this roll over and
we broke the bottom off the D wve right
now as you can see we have this
confirmation and we are still in
downtrend and guys I have to say that uh
in general we are still in downtrend and
we are forming the fifth wave or in the
fifth wave on a bigger scale and this
means we have to break all these Bottoms
in order to confirm this trend and for
now we’ve broken the first range of
support and definitely it is the first
confirmation of this shape so as you can
see technical analysis works perfectly
well and if you want to know more about
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Stadium back
Rockstar in
the and let’s continue with the
fundamental news first all let me show
you this update we are on
tradingeconomics.com and let me quote
you this news us natural gas Futures
fell more than 5% toward
17 per mmbtu due to expectations of
reduced heating demand for the upcoming
week and in anticipation of the weekly
Federal Storage report analysts
predicted that gas stock piles were more
than 35% higher than the usual levels
for this time of the year driven by
combination of elevated uh start and
storage levels and Mild winter gas
demand including export is expected to
decrease to 92.7 billion cubic feet per
day next week from uh 98 bcfd this week
on the other hand daily liquified
natural gas feed gas reached 12.4 bcfd
with gas flowing to fre Port L’s Texas
export terminal increasing to 0.5 bcfd
from 0.1 bcfd last Friday meanwhile us
gas production has fallen by
approximately 10% this year as energy
companies like equity and CH energy
delayed well completions and scaled back
drilling activities and definitely all
of the major uh companies uh all of the
major uh LNG and natural gas
manufacturers will reduce their activity
because these actions will lead to lower
range of production for them and uh
definitely it might increase their
profit because of the price but for now
we are still in downtrend and from the
technical standpoint I see nothing but
the movement to the downside and let’s
continue with the technical analysis but
before we di deep right here please
subscribe to my channel hit notification
Bell and hit the like button this helps
me a lot so guys definitely this
structure looks a bit messy I don’t need
this tool let me delete it for
now and I have to say that uh this
structure is not a perfect structure we
still have I still have some doubts
about this wave from D to C Point as you
can see it has a clear diagonal five way
structure and uh in the ABCDE correction
uh wave we shouldn’t have five wave
structure inside this waves this is the
only violation of this pattern so far
and guys if my assumption is correct and
E the top of the E wave is right here
the entire retracement we don’t need ABC
correction for now the top of our fourth
wave might be right here and if it is
the case we have to confirm it by
breaking the D point and the bottom of
this entire retracement at the level of
about $1.
452 and guys definitely this movement to
the downside in terms of its shape has a
very indicative movement but in terms of
volume in my opinion it doesn’t uh
support this uh formation this means we
still have a chance to have a bounce to
the upside and as long as these two
pivot holds the D point and the zero
points right here as low as these two
pivot holes we are still on the
nowhere’s territory and guys definitely
my main assumption is still the same if
I zoom out to 4 hours time frame you can
see that uh we are in this uh let me
show you like this we are in this uh
formation one 2 three 4 and uh we are in
the fifth wave we potentially are
forming this fifth wave and this fifth
wave is nothing else about the end in
fifth we from the bigger scale because
we have uh let me show you like this
this is the top potential top of our
fourth wave and uh we have to see
another leg to the downside on a bigger
scale that will be the bottom of the
fourth wave for now I don’t want to make
a any projections of the bottom of the
fifth wave on a smaller scale which will
be the bottom potentially the bottom of
the fifth wave on a slightly bigger
scale because we first of all have to
have a confirmation of this movement but
at the same time guys on bigger scale I
don’t see anything uh than this wave and
if I zoom out even uh to a daily time
frame you can see that we are in the
major let me delete unnecessary Tools in
order to see it more properly we are in
the major retracement to the downside
let me show you like
this we from this point from n from
almost $10 Mark we formed an a wave we
formed an bwa and we are in the
formation in the c-wave and c-wave
should have a five wave structure and
this five wave structure is right here
one two three very very long unusual
four wave and uh next like to the
downside that also should have a shape
of five wave structure and that is why
we are here at the very end of this
movement and guys definitely in the
long-term perspective when this wave
will be formed it will be a perfect
opportunity to see to catch the next
lack to the upside because we still
because we have to see a bounce we have
to see a bounce to the upsite from the
technical standpoint and definitely it
will be a major movement for the natural
gas and uh when this bottom will be
extremely close to the resolution I will
do another update and definitely I will
do even more updates in between these
two points and then we will be able to
catch this movement to the upsite so I
think that’s all information that I want
to provide you if you like my video
please hit the like button and subscribe
to my Channel with notification Bell and
see you guys in next time bye I got cash
The
Rock the Baby I’m bad I just want to get
caught up in this life I’m crazy I’m mad
doing no cap only God wants you better
go it up

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ProShares Ultra Bloomberg Natural Gas is an exchange traded fund launched by ProShare Capital Management LLC. The fund is co-managed by ProFund Advisors LLC and ProShare Advisors LLC. The fund invests in the commodity markets. It takes long positions and uses derivatives to invest in natural gas sector. It uses derivatives such as futures to create its portfolio. The fund seeks to track 2x the daily performance of the Bloomberg Natural Gas Subindex. ProShares Trust II – ProShares Ultra Bloomberg Natural Gas was formed on October 4, 2011 and is domiciled in the United States. In this BOIL Stock Analysis video, we discuss swing trading and investing in the company. We analyze the 55 EMA (Exponential Moving average), MACD (Moving Average Convergence Divergence), RSI (Relative Strength Index), bullish and bearish trends, technical analysis chart patterns, and potential entry and exit points for traders and investors.

Timecodes:
0:00 Intro
0:12 Fundamental Analysis
4:22 Technical Analysis

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