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9e75947a-f0bb-4154-989e-d1fae0558bf3

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Natural Gas Technical Outlook

Wed, Jan 7 2009, 12:27 GMT
by Oil N' Gold Team

Oil N' Gold

Nymex Natural Gas (NG)

Natural gas retreats once again after edging higher to 6.24 and an intraday top should be in place with 4 hours MACD crossed below signal line. Intraday outlook is turned neutral for the moment. Though, we're still favoring the case that an important bottom is in place at 5.210, inch above key long term support of 5.192. Further rise should be seen to 6.978 resistance first. On the downside, however, break of 5.477 support will suggest that rebound from 5.210 is merely a correction and will bring deeper fall to retest this low.

In the bigger picture, fall from 13.69 is treated as part of long term consolidation that started at 15.65 and might have completed after just missing 5.192 key long term support, with bullish convergence condition in daily MACD and RSI. Break of 7.36 resistance will confirm this case and should at least bring rally to 8.88 resistance and above. On the downside, though, below 5.192 will suggest that such down trend from 13.69 is resuming for 4.3 low.

Nymex Natural Gas Continuous Contract 4 Hours Chart and Daily Chart

Published on  Wed, Jan 7 2009, 12:27 GMT

16883abf-24b1-41ce-b8ab-1acbc18c9779

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Natural Gas Technical Outlook

Tue, Jan 6 2009, 11:32 GMT
by Oil N' Gold Team

Oil N' Gold

Nymex Natural Gas (NG)

Natural gas' break of 6.18 indicates that rise from 5.21 has resumed. At this point, intraday bias remains on the upside as long as 5.825 minor support holds. As discussed before, we're still favoring the case that an important bottom is in place at 5.210, inch above key long term support of 5.192. Further rise should now be seen to 6.978 resistance first. On the downside below 5.825 will turn intraday outlook neutral again. Further break of 5.477 will suggest that rebound from 5.210 is merely a correction and will bring deeper fall to retest this low.

In the bigger picture, fall from 13.69 is treated as part of long term consolidation that started at 15.65 and might have completed after just missing 5.192 key long term support, with bullish convergence condition in daily MACD and RSI. Break of 7.36 resistance will confirm this case and should at least bring rally to 8.88 resistance and above. On the downside, though, below 5.192 will suggest that such down trend from 13.69 is resuming for 4.3 low.

Nymex Natural Gas Continuous Contract 4 Hours Chart and Daily

Published on  Tue, Jan 6 2009, 11:32 GMT

af95c39a-a0e9-424c-a3ce-63c1fc29202f

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Natural Gas Technical Outlook

Wed, Dec 31 2008, 09:47 GMT
by Oil N' Gold Team

Oil N' Gold

Nymex Natural Gas (NG)

Natural retreats sharply after hitting 6.18 high. While an intraday top is in place, short term outlook will remain bullish as long as 5.779 minor support holds. As discussed before, a short term bottom should be formed at 5.21 after just missing 5.192 long term support on bullish convergence condition in 4 hours MACD and RSI. Further rise is expected to be seen to trend line resistance at 6.43 and break there will put focus to 6.978 resistance. On the downside, below 5.779 will dampen this case and turn outlook neutral first.

In the bigger picture, the three wave structure of the rise from 4.3 to 13.69 argues that it's part of a longer term consolidation that started at 15.65. The current fall from 13.69 should represent the third leg of such consolidation and has just missed 5.192 long term support. With daily MACD back above signal line, short term outlook is turned neutral for the moment. Firm break of 6.978 resistance will be the first signal that whole decline from 13.6 has completed, with bullish convergence condition in daily MACD and RSI. In such case, strong rally should be seen towards 8.88 resistance first. On the downside, though, below 5.21 will indicate that fall from 13.6 is still in progress. But downside should be contained by 4.3 low and bring strong rebound.

Nymex Natural Gas Continuous Contract 4 Hours Chart and Daily Chart

Published on  Wed, Dec 31 2008, 09:47 GMT

613d003d-4e29-4b8d-9251-65f5a304e544

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Natural Gas Technical Outlook

Tue, Dec 30 2008, 10:42 GMT
by Oil N' Gold Team

Oil N' Gold

Nymex Natural Gas (NG)

Natural gas' rise from 5.210 extends further to as high as 6.18 today and at this point, intraday bias remains on the upside as long as 5.779 minor support holds. As discussed before, short term bottom is formed at 5.21, after just missing 5.192 long term support on bullish convergence condition in 4 hours MACD and RSI. Further rise is expected to be see to trend line resistance at 6.43 and break there will put focus to 6.978 resistance. On the downside, below 5.779 will turn intraday outlook neutral and bring retreat.

In the bigger picture, the three wave structure of the rise from 4.3 to 13.69 argues that it's part of a longer term consolidation that started at 15.65. The current fall from 13.69 should represent the third leg of such consolidation and has just missed 5.192 long term support. With daily MACD back above signal line, short term outlook is turned neutral for the moment. Firm break of 6.978 resistance will be the first signal that whole decline from 13.6 has completed, with bullish convergence condition in daily MACD and RSI. In such case, strong rally should be seen towards 8.88 resistance first. On the downside, though, below 5.21 will indicate that fall from 13.6 is still in progress. But downside should be contained by 4.3 low and bring strong rebound.

Nymex Natural Gas Continuous Contract 4 Hours Chart and Daily Chart

Published on  Tue, Dec 30 2008, 10:42 GMT

9bdabb01-5467-4e13-a1db-21bde3ac07b1

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Natural Gas Technical Outlook

Mon, Dec 22 2008, 15:14 GMT
by Oil N' Gold Team

Oil N' Gold

Natural gas continues to trade with a soft tone today. Recent down trend is still in progress as long as 5.855 resistance holds, targeting 5.192 long term support next (138.2% projection of 7.36 to 6.054 from 6.978 at 5.173). On the upside, though, above 5.855 wail argue that a short term bottom is in place and bring stronger rebound.

In the bigger picture, the three wave structure of the rise from 4.3 to 13.69 argues that it's part of a longer term consolidation that started at 15.65. The current fall from 13.69 should represent the third leg of such consolidation and is still in progress. Break of 5.99 now paves the way to 5.192 long term support or below. But downside should be contained by 4.3 low and bring strong rebound. On the upside, firm break of 6.978 resistance will be the first signal that such decline from 13.6 has completed. In such case, strong rally should be seen towards 8.88 resistance first.

Nymex Natural Gas Continuous Contract 4 Hours Chart and Daily

Published on  Mon, Dec 22 2008, 15:14 GMT

47e6d7e3-5850-4245-bf20-080d9057920a

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Natural Gas Technical Outlook

Fri, Dec 19 2008, 10:19 GMT
by Oil N' Gold Team

Oil N' Gold

Nymex Natural Gas (NG)

No change in Natural Gas' outlook as it's still bounded in range of 5.458 and 5.855. Further decline is still in favor to retest 5.458 low. Break will confirm recent fall has resumed for 5.192 long term support (138.2% projection of 7.36 to 6.054 from 6.978 at 5.173). On the upside, above 5.855 will indicate that consolidation from 5.458 is still in progress for another rise. Though, break of 6.978 resistance is needed to confirm that a short term bottom is formed. Otherwise, risk remains on the downside.

In the bigger picture, the three wave structure of the rise from 4.3 to 13.69 argues that it's part of a longer term consolidation that started at 15.65. The current fall from 13.69 should represent the third leg of such consolidation and is still in progress. Break of 5.99 now paves the way to 5.192 long term support or below. But downside should be contained by 4.3 low and bring strong rebound. On the upside, firm break of 6.978 resistance will be the first signal that such decline from 13.6 has completed. In such case, strong rally should be seen towards 8.88 resistance first.

Nymex Natural Gas Continuous Contract 4 Hours Chart and Daily Chart

Published on  Fri, Dec 19 2008, 10:19 GMT

becd6a2e-e6f4-4bc3-ab83-355762ed8354

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Natural Gas Technical Outlook

Tue, Dec 16 2008, 11:30 GMT
by Oil N' Gold Team

Oil N' Gold

Nymex Natural Gas (NG)

Natural Gas's touching of 5.792 minor resistance indicates that an intraday low is in place at 5.458. Strong rebound might now be seen. Though, break of 6.978 resistance is needed to confirm that a short term bottom is formed. Otherwise, risk remains on the downside. Below 5.458 will indicate that recent decline has resumed for 5.192 long term support (138.2% projection of 7.36 to 6.054 from 6.978 at 5.173).

In the bigger picture, the three wave structure of the rise from 4.3 to 13.69 argues that it's part of a longer term consolidation that started at 15.65. The current fall from 13.69 should represent the third leg of such consolidation and is still in progress. Break of 5.99 now paves the way to 5.192 long term support or below. But downside should be contained by 4.3 low and bring strong rebound. On the upside, firm break of 6.978 resistance will be the first signal that such decline from 13.6 has completed. In such case, strong rally should be seen towards 8.88 resistance first.

Nymex Natural Gas Continuous Contract 4 Hours Chart and Daily Chart

Published on  Tue, Dec 16 2008, 11:30 GMT

08f6a452-27ad-4db6-944e-ae4cb7f618b5

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Natural Gas Technical Outlook

Fri, Dec 12 2008, 09:57 GMT
by Oil N' Gold Team

Oil N' Gold

Natural Gas' recovery was limited at 5.792 and recent decline is possibly resuming now. Below 5.458 will bring decline towards next target of 5.192 long term support (138.2% projection of 7.36 to 6.054 from 6.978 at 5.173). On the upside, above 5.869 will indicate that another recovery is underway to 4 hours 55 EMA (now at 5.948) and above. Though, break of 6.978 resistance is needed to confirm that a short term bottom is formed. Otherwise, risk remains on the downside.

In the bigger picture, the three wave structure of the rise from 4.3 to 13.69 argues that it's part of a longer term consolidation that started at 15.65. The current fall from 13.69 should represent the third leg of such consolidation and is still in progress. Break of 5.99 now paves the way to 5.192 long term support or below. But downside should be contained by 4.3 low and bring strong rebound. On the upside, firm break of 6.978 resistance will be the first signal that such decline from 13.6 has completed. In such case, strong rally should be seen towards 8.88 resistance first.

Nymex Natural Gas Continuous Contract 4 Hours Chart

Nymex Natural Gas Continuous Contract Daily Chart

Published on  Fri, Dec 12 2008, 09:57 GMT

a7c7c61b-9c06-4b99-9abb-b6211c7afa92

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Natural Gas Technical Outlook

Wed, Dec 10 2008, 16:13 GMT
by Oil N' Gold Team

Oil N' Gold

Nymex Natural Gas (NG)

Natural Gas continues to trade sideway above 5.5458 today. While some more consolidation might be seen with an intraday low in place, it should be relatively brief as long as 5.869 minor resistance holds. Fall from 6.978 should resume sooner rather than later to next target of 5.192 long term support (138.2% projection of 7.36 to 6.054 from 6.978 at 5.173). Above 5.869 will indicate that stronger recovery is underway to 4 hours 55 EMA (now at 6.149). Though, break of 6.978 resistance is needed to confirm that a short term bottom is formed. Otherwise, risk remains on the downside.

In the bigger picture, the three wave structure of the rise from 4.3 to 13.69 argues that it's part of a longer term consolidation that started at 15.65. The current fall from 13.69 should represent the third leg of such consolidation and is still in progress. Break of 5.99 now paves the way to 5.192 long term support or below. But downside should be contained by 4.3 low and bring strong rebound. On the upside, firm break of 6.978 resistance will be the first signal that such decline from 13.6 has completed. In such case, strong rally should be seen towards 8.88 resistance first.

Nymex Natural Gas Continuous Contract 4 Hours Chart

Nymex Natural Gas Continuous Contract Daily Chart

Published on  Wed, Dec 10 2008, 16:13 GMT

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