Technical Analysis Overview
* Trend Analysis:
* UNG is forming a potential ascending triangle pattern on the 4-hour chart, with higher lows and resistance around $17.00.
* The price action suggests a bullish breakout if it sustains above $17.00.
* Support and Resistance:
* Support: $15.49 (key horizontal support), $14.77 (PUT support wall).
* Resistance: $17.00 (near-term breakout level), $19.50 (major resistance).
* MACD:
* The MACD line is crossing above the signal line, confirming bullish momentum in the short term.
GEX Analysis
* Call Resistance Levels:
* $17.50 (48.19% GEX): Strong call wall, crucial for a breakout confirmation.
* $19.50: Next major resistance if the price moves above $17.50.
* Put Support Levels:
* $14.77 (-12.76% GEX): Highest negative GEX and a solid downside cushion.
* Options Activity:
* IVR: 63.4, indicating relatively high implied volatility.
* Calls dominate the options chain with 79.8% CALL skew, signaling strong bullish interest.
Trade Setups
* Bullish Scenario:
* Entry: Above $17.05 with strong volume confirmation.
* Target: $18.50 → $19.50.
* Stop-Loss: Below $16.50.
* Bearish Scenario:
* Entry: Below $15.40.
* Target: $14.80 → $14.00.
* Stop-Loss: Above $15.75.
Final Thoughts
UNG appears poised for a breakout above $17.00. Traders should monitor volume closely for confirmation. While the bias is bullish, key support at $15.50 should be watched for invalidation.
Disclaimer: This analysis is for educational purposes only and not financial advice. Always conduct your own research and manage your risk appropriately.
* Trend Analysis:
* UNG is forming a potential ascending triangle pattern on the 4-hour chart, with higher lows and resistance around $17.00.
* The price action suggests a bullish breakout if it sustains above $17.00.
* Support and Resistance:
* Support: $15.49 (key horizontal support), $14.77 (PUT support wall).
* Resistance: $17.00 (near-term breakout level), $19.50 (major resistance).
* MACD:
* The MACD line is crossing above the signal line, confirming bullish momentum in the short term.
GEX Analysis
* Call Resistance Levels:
* $17.50 (48.19% GEX): Strong call wall, crucial for a breakout confirmation.
* $19.50: Next major resistance if the price moves above $17.50.
* Put Support Levels:
* $14.77 (-12.76% GEX): Highest negative GEX and a solid downside cushion.
* Options Activity:
* IVR: 63.4, indicating relatively high implied volatility.
* Calls dominate the options chain with 79.8% CALL skew, signaling strong bullish interest.
Trade Setups
* Bullish Scenario:
* Entry: Above $17.05 with strong volume confirmation.
* Target: $18.50 → $19.50.
* Stop-Loss: Below $16.50.
* Bearish Scenario:
* Entry: Below $15.40.
* Target: $14.80 → $14.00.
* Stop-Loss: Above $15.75.
Final Thoughts
UNG appears poised for a breakout above $17.00. Traders should monitor volume closely for confirmation. While the bias is bullish, key support at $15.50 should be watched for invalidation.
Disclaimer: This analysis is for educational purposes only and not financial advice. Always conduct your own research and manage your risk appropriately.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.