NATURALGAS we have our 1st rejection from the nearest resistance (gray area - bearsih orderblock at 1h). Market is still pumping which to me indicates buyers took some of their profits but there are still not enough bears to correct the price. I am going to wait a bit longer and see what happens in the 1h chart and if we start accumulating divergences. So far divergences start appearing only at 5m chart and market structure has only changed at 1m chart so a retest of the highs from today might be possible. Let's see - I'm not rushing to short this and I'm definitely not in a hurry to long this either. Good luck!
NATGAS àNatural-gas prices soared on Monday, leading crude-oil prices higher, according to Mike O’Rourke, chief market strategist at Jones Trading.
Traders blamed a couple of different factors, including expectations for colder temperatures in the U.S. and Europe, as well as the imminent expiration of a deal allowing Russian liquefied natural gas to be transported to Europe through Ukraine.
Germany, France and the U.K. were all expecting temperatures to drop below zero degrees Celsius in the coming days, while the U.S. was bracing for a polar vortex.
Meanwhile, the Kyiv Independent reported that Ukrainian Foreign Minister Andrii Sybiha has demanded that imports of Russian LNG to Europe must be banned, and replaced with supplies originating in the U.S.