free commodity naturalgas tips charts

MCX Natural Gas Head and Shoulders Trading Setup

free commodity naturalgas tips charts

Natural gas Head and Shoulders Suggesting Price Crash

MCX Natural gas has made head and shoulders patterns on the weekly timeframe. And the two shoulders are overlapping. Sell confirmation is line breakout.

Recently, it has broken 200 moving average. If it shows closing price below the neckline and 200 MA consecutively, NG will fall nonstop.

X and Y are the formation’s size. Here is the value of x 100 and y 74. So, according to H&S formation, it can collapse up to 112 – 86.

Hurdle: 196
Short-term targets: 170 – 168
Long-term targets: 146 – 136

Here are H&S, RSI, MA, and DMI throwing sell signals.

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free commodity naturalgas chart tips

Is Natural Gas Ready to Complete a “Head and Shoulders”?

free commodity naturalgas chart tips

Natural gas started to make the head and shoulders pattern on the daily timeframe. First of all, let’s understand some basics about the head and shoulders pattern. Here, it’s a bearish head and shoulders pattern. In this pattern, the trend starts with the uptrend and makes the left shoulder, head, and the right shoulder. And after the completion of the right shoulder, it falls by breaking the neckline.

In this chart, the trend completed the left shoulder, and the head is almost there. And then it will create the right shoulder. It will fall up to the neckline to complete the formation of the head. And the targets to reach the neckline are as following 180 – 175 – 168.

After hitting the neckline, the next step of natural gas will be the right shoulder. As per the rules, the right shoulder can be similar to the left shoulder or, it can be at a higher level than the left shoulder. Because the left shoulder is at 203, the trend will march again to 203 to make the right shoulder. To reach 203, natural gas will hit 180 – 190 – 200.

And then the trend will take reversal and fall by breaking the neckline.
Targets: 195 – 185 – 175.

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free mcx naturalgas calls chart

MCX Natural Gas Long-Term Outlook – Target 300+

free mcx naturalgas calls chart

According to this chart, MCX Natural gas is further advance. We may see the following levels after a reversal.

Targets: 234.6 – 263.9 – 305.6

Intraday traders can run with 20 & 50 MA crossover. And long-term traders should stick with 200 MA to maximize profits.

Significant releases or events that may affect the movement of natural gas on Wednesday, Oct 28, 2020:

  • 02:00: U.S. API Weekly Crude Stock
  • 20:00: U.S. Crude Oil Inventories
  • 20:00: EIA Weekly Refinery Crude Runs
  • 20:00: U.S. Crude Oil Imports
  • 20:00: U.S. Cushing Crude Oil Inventories
  • 20:00: U.S. Gasoline Production
  • 20:00: U.S. Heating Oil Stockpiles
  • 20:00: U.S. Gasoline Inventories
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Gold, Silver, Natural Gas Trading Calls & Updates

Update: Is Gold Price Setting Up for an Uptrend?

Have you read the August 16th newsletter of Gold?
If not, click here.

I have written, “Don’t forget to follow the control price (CP). If gold breakdown CP, it may fall for 51360 – 51000 – 50500 – 50000 levels. Watch out the selling level on the chart.”

Yesterday gold has touched all targets.

Is silver ready for the second target?

free commodity silver chart tipsDid you read the September 9th article of Silver?
Click here to read now

I have written in bold words, “…if you look at the volume and S RSI indicators, it is planning for a downtrend. And at present, silver is very close to the control price line. Hence, a downtrend may start from this point. A breakdown of control price can initiate a new fall for 61000 – 55785 – 50570 levels.”.

So, yesterday silver has touched the first target. If it will remain under the retracement level of 38.20%, we may see continue downfall.

If it remains under the 38.20% retracement level, it will keep falling for the next target.

Please note that silver playing at March 2020 uptrend channel (support). Hence, don’t sell above it, Because it will start to rise from there up to 23.60% (67445).

Update: Natural gas Struggling at Strong Support

free mcx naturalgas chart tips

Have you read the natural gas intraday tips report?
Click here to read it now

I have written, “for safe traders, short positions can be initiated after 170 levels.
Targets: 167.6 – 165 – 162.6 – 160“.

Natural gas has touched all targets as well. What else you want?

The next report about MCX base metals commodities (Aluminum, Copper, & Nickel) is coming soon. Stay connected!

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free mcx naturalgas chart tips

Natural gas Struggling at Strong Support

free mcx naturalgas chart tips
On the chart above, we have plotted three different MAs on the 1-hour chart of Natural gas futures. As you can see, the 62 MA is indicating a downtrend ahead. And 5 MA & 30 MA are crossing each other for a reversal. This reversal can be for 174 to 180 levels.

But according to the support & resistance trendline, we may see continue price collapsing.

I have also highlighted a support area with green color. Particularly from this point, it’s taking a u-turn.

For safe traders, short positions can be initiated after 170 levels.
Targets: 167.6 – 165 – 162.6 – 160

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free mcx natural gas tips chart

MCX Natural Gas Descending Triangle 2H Chart

free mcx natural gas tips chart

As per the following chart, MCX natural gas is under downtrend for a short period. Without fake-out, commodity natural gas prices may drop for 118 – 116 levels below.

How about E? If its price remains above to the support, we will see 126.6 – 128+ soon.

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