Natgas Natural Gas Futures: Forecast & Seasonality! | BOIL & Natgas Analysis! 05/01/2024 Update
what’s up everybody Welcome to Money Management Channel my name is Andre and today I’m going to be doing an update on natural gas Futures got rock and on today’s video guys first all I will show you where we are on a price chart and how we get there and I have to say that uh the uh latest uh movements of this asset was quite weird and I’m a bit confused about its price section but everything I will show you in my technical analysis then I will continue with the fundamental news and I will show you what sentiment do we have on the market in regards to natural gas prices and at the end of this video I will share my thoughts and I will show you what uh crucial points do we have in order to make some forecasts in regards to the price setion so and let’s start with the price chart I made my previous video right here when we were retesting this uh range of support and my main assumption was that we completed from uh the swing High let me show you like this let’s switch to 4 hours time frame and from this point uh from this toop we were forming the five wave structure to the downside and we were in the fourth wave retracement and uh according to this price setion as you can see we were in some kind of symetrical triangle and uh we broke the range of support of this triangle and definitely it was uh the main assumption that potentially we formed all a b c d e waves with the underthrow in the e-wave and we are forming the next leg to the downside that will complete the fifth wave on a smaller scale that will complete the fifth wave on a bigger scale that will complete the C wave on the biggest scale from its uh alltime high so and for now as you can see we have a contract switch and because of this we broke the range the top level of the ewave and we broke even this top and I’m pretty much confused where we are now and what structure do we have right here definitely in the ABCDE uh correction uh the main concern was this wave from B point to c point because we clearly uh see the five waves in it and it is a violation of alot wave theory rules but at the same time guys for now I have a quite interesting update and potentially we are again in ABC correction but on the bigger scale and in just several minutes I will show you what I’m talking about so and guys if you want to know more about technical analysis if you want to enhance your trading skills feel free to subscribe to my YouTube channel and to join my patreon account where for the $35 a month you will be able to drastically enhance your pring skills on top of that for the first 100 subscribers I will do a giveaway I will do a technical analysis based on your request on any asset that you might find on top of that guys and it is the most lucrative offer uh for now there is not so many people inside the community and that is why Almost 100% of my time will be dedicated to you and it will be pretty much a one-on-one training for the price of $450 uh but for the fraction of this cost for the $35 a month so I think it is quite fair deal and let’s continue with the fundamental news we are on tradingeconomics.com and let me gool to this summary us natural gas Futures climbed to $ 2.06 per mmbtu the highest level in a week driven by increased demand forecast due to rise in feed gas at free Port en’s export plant in Texas LNG fed gas reached a 3 week high of 12.9 bcfd on Monday up from 12.2 bcfd the day before indicating that at least one of the three liquefaction TRS was back online after an outage free port lngg a major US liquefied natural gas export facility has experienced multiple outages this year with all processing units offline recently meanwhile meteorologists predict about average temperatures until May 11th followed by return to NE normal conditions from May 12th to May 14th and uh I have to say that uh this uh forecast uh from meteorologist is quite neutal but uh the fact that uh at least one of for the three liquifaction brands was back online after outages uh is quite bearish in general and that is why we still have quite substantial bearish pressure on this asset in the near-term perspective so and let’s continue with the technical analysis but before we dive deep right here please subscribe to my channel hit notification Bell and hit the like button this helps me a lot so guys what to expect next and where we are on the price chart I have to say that it is very uh difficult to find out where we are but uh definitely we eliminated this ABCDE e correction pattern and uh potentially we are again in the ABC uh correction but on the bigger scale this might be our AWA this might be our bwa and we have another potential L to the upset that complete that should complete our sewa and guys uh definitely I don’t like uh any of this counts that is why I uh still stand on my position that we have to see the lower price action but uh I’m a bit confused whether it should go from the current prices or we might complete the top of the CWA in the retracement on a slightly bigger scale that is why I highly encourage you not to enter your position until the market uh reveals itself and definitely the most crucial point for this asset is the Break Out Below this bottom at 1.5 94 Mark and uh this will pretty much confirm the movement to the downside and the 100% certain confirmation will will be the breakout below this bottom but so far we are still have a chances to hit High targets and guys don’t be confused my main count is still the same we have to uh complete the bottom of our fifth wave the only the only uh debatable part is whether the top of our fourth wave is right here or it might be a bit higher levels and then we should have this leg to the downside for now it is very difficult to assume where we are that is why guys wait for the confirmation and we might have even this type of movement we might have even we might have even this type of movement we might have an attempt to hit High targets but then we might see a quicker over to the downside definitely for now it is a gray area and it happens from time to time on the market that is why don’t try to force any trades just wait for the confirmation and switch to other potential assets that are more clear for you as a technical traders 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 and girls next time bye I got the cash in theum rockar in this it up on the attack baby I’m 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 Liv up cash in the back stady un pack baby I’m back
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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
5:03 Technical Analysis
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BOIL Stock News: https://www.nasdaq.com/articles/europe-gas-prices-rise-on-lower-lng-send-out-outages
BOIL Stock News: https://www.fxstreet.com/news/natural-gas-price-pauses-after-17-surge-in-prior-week-202306191248
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