Natural Gas Reinforcing Buy Signals; Projects 3Q Surge into Aug/Sept ‘23!
06-30-23 – “Natural Gas is tracing out a potentially bullish daily trend and daily 21 MAC sequence, triggering an intermediate buy signal on June 29… that could spur an initial surge into [reserved for subscribers]…
To set the stage, Natural Gas has been positive after fulfilling analysis for a multi-month bottom in June ’23 – a ~3-year cycle from the June ’20 low & the latest phase of an ~18-month high-low-low-low-(low) Cycle Progression.
At the lows, it also fulfilled a ~3-month/12 – 13-week/~90-degree high-high-high-high-(low; May 29 – June 2, ‘23) Cycle Progression that could/should [reserved for subscribers]…
This is likely the completion of a major bear market following the fulfillment of so many upside targets and multi-year cycle highs in 3Q ’22… and the more recent fulfillment of so many downside targets as Natural Gas reached – and has initially held – multi-year support.
The recent July ’23 INSIIDE Track reiterated this:
6-29-23 – “Natural Gas plunged back to long-term support (~2.000/NG), completing a full cycle and full wave structure after peaking in line with an ~8.25-year high-high-high-(high 2Q/3Q ‘22), an ~11-month high-high-high-(high; Aug 2022) AND an over-arching 22 – 23 month high-high-high-(high; Aug/Sept 2022) Cycle Progression.
This overall decline was/is likely to bottom in June ’23 – a ~3-year cycle from the June ‘20 low and the latest phase of an ~18-month high-low-low-low-(low) Cycle Progression.
3 – 6 month & 6 – 12 month traders and investors can enter long position in Sept ‘23 e-mini Natural Gas futures at current levels (~2.630/QGU) and average into these down to 2.400/QGU. Place sell stops (exit) on a daily close below 2.195/QGU.”
Ultimately, it needs a weekly close above 2.870/NGU to confirm a multi-month bottom. It has pulled back after spiking to new 2 – 3 month highs…
A rally and daily close above 2.911/NGU would confirm a new impulse wave… and likely result in a coinciding or ensuing weekly close above its weekly 21 High MAC.
This also follows, and reinforces, the outside-week/2 Close Reversal buy signal it generated on June 16.
All of this is setting the stage for a potential accelerated rally with the next phase likely [reserved for subscribers]…
At a minimum, Natural Gas could rally to ~3.400 and then ~4.200/NGU. However, with ongoing heat waves across the US, it could spike much higher with very little warning. (European demand, leading into another Winter with sanctioned Russian supply, could also have a psychologically-bullish impact.)
1 – 4 week & 1 – 2 month traders can enter long positions in Sept ’23 e-mini Natural Gas futures at current levels and average into these down to 2.400/QGU. Place sell stops (exit) on a daily close below 2.195/QGU.” FUTURES TRADING INVOLVES SUBSTANTIAL RISK!
Energy markets are in the time when they should begin multi-month surges as Crude and the products signal secondary lows while Natural Gas validates analysis for a Major bottom in June ‘23. Cycles turn very bullish in 3Q ‘23 and should prompt an overall rally into Aug/Sept ’23 (Sept ’23 = ideal time) – when multiple, long-term cycles collide. Watch two key time frames for sharp surges!
The March 17, 2023 issue of The Bridge – Crude, Natural Gas & the XOI Index details key factors to monitor as energy markets begin to embark on new advances… that should accelerate into Aug/Sept ’23.
Does this Have Anything to Do with Geopolitical Factors?
When & Where Is the Best Place to Enter Long Positions?
How Does This Correlate to Inflation & Interest Rate Analysis?
Refer to the March 17, 2023 issue of The Bridge – Crude, Natural Gas & the XOI Index (FREE with any Weekly Re-Lay subscription of 1 month or longer) for expanded analysis that addresses key aspects of the 2023 outlook for energy markets.
Refer to latest Weekly Re-Lay & INSIIDE Track publications for additional details and/or related trading strategies.