sell NG

ng daily

As shown in the daily chart of Natural Gas futures, price made break out from the bear wedge. The wedge is not perfect but it can work. CMP mcs is 199 . Try to short it, 2.87 is the confirmation mark of the bearishness, it confirms that rally is over. Jay Shriram.

ng 4 hrs 

You can see in this 4 hrs chart that price break both the blue trendlines downwards. 5 times, price had taken support from 2.87 mark, which is shown in the red line. Jay Shriram.

update 1 , 08.13 IST, 21/06/ 18

ng daily

ng hourly 

As shown in the daily chart, price went downward after this post but took support and went up to 3.013 or mcx 204.50. Today is inventory day for ng and inventory is not bullish ... EIA Natural Gas Inventory: +91 Bcf vs. +85 Bcf consensus, +96 Bcf last week. so you can see in hourly chart, price moved in bear wedge for full day and break out downwards. This wedge is not fulfilling all the requisites of toching R line & S line but it is working with inventory which is favouring us . Let's hope for good. Jay Shriram.

update 2, 09.27 pm IST, 21/06/18

ng 4 hrs 

Look at this 4 hrs ng chart. Coil or symmetrical triangle is there. As requisites of the valid coil is 2 times touch to resistance line and 2 times to support line, this coil has 2 touchs of price to R line and 1 to S line, ongoing wave is downwards. So expect this coil to break downwards. This is very powerful pattern. Jay Shriram.

update 3 , 01.06 pm, 25/06/18

ng 4 hrs 

As shown in the NG 4 hrs chart, price consolidate in symmetrical triangle ( coil ) and made downward breakout. We are back in the profit in this positional short. coil is powerful pattern, very few times I saw a failure of this pattern but price can reverse back & touch S line of coil but that line will work as resistance line for the price because of the rule of polarity. so hold your short position for big gains. Once 5 time support of 2.87 will break, price will tumble down heavily. 

Thank you for visiting my blog, Jay Shriram.

update 4 , 09.00 IST, 26/06/18

There is some fundamental news about ng, which can drag down the price of the commodity. China may cut import of ng from U.S. The link is below   

China trade dispute threatens LNG exports from U.S., Total CEO says https://seekingalpha.com/news/3366272?source=ansh $TOT, $UNG, $UGAZ, $DGAZ, $BOIL, $KOLD, $UNL, $DCNG, $GAZB

Update 5, 08.00 IST, 09/07/2018

ng 4hrs

As shown in the the 4 hrs chart, ng price dropped after posting this post. In rupee term , we sold it around Rs 199 & made avg near 205 now it is howering around 195- 194. I booked my full profits and made exit from this trade. There are chances of downfall but I prefer to book profits. Enjoy , Jay Shriram.