The Hourly View for Natural Gas
- At the moment, NG1’s price is down $0 (0%) from the hour prior.
- This is a reversal of the price action on the previous hour, in which price moved up.
- If you’re a trader with a preference for rangebound markets, you may wish to note that there isn’t a clear trend on the 20, 50 and 100 hour timeframes.
- Of note is that the 20 hour changed directions on NG1; it is now pointing up. The moving averages on the hourly timeframe suggest a choppiness in price, as the 20, 50, 100 and 200 are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders.
Natural Gas’s hourly price chart is shown below.
Below is a daily price chart of Natural Gas.
Featured Natural Gas Idea From TradingView
Below is a trading comment entitled GENERAL ELECTRIC:DETAILED FUNDAMENTAL ANALISYS-LONG SCENARIO ? you may find interesting:
General Electric was once a massive power producer. Back in 2017, turbine manufacturing was the company’s biggest business. Then it all went downhill.A turbine design defect (now fixed) forced potential power producers to put their purchase plans on hold. And then clean natural gas power began to lose its popularity as alternatives to solar power became more affordable. GE’s energy turbine revenues are now down to about half of their peak levels. This decline in sales has further trimmed the company’s bottom line of profits.Investors should pay attention to the fact that the company is changing. This could be an indicator that GE’s once-great energy business is slowly recovering.Of course, it’s hard to distinguish between organic growth driven by increased demand and growth that is merely the mathematical result of last year’s COVID-19-induced outages. For most companies, it’s probably a mixture of both.For General Electric’s power turbine business, however, it will likely be organic growth. Utility companies plan million-dollar investments years in advance and then maintain the purchased turbines for 20 years or more. The difficulties associated with time constraints designed to keep consumers at home are not a major hindrance to the power generation industry.Knowing this fact helps put the chart below in the right perspective. Last year’s modest orders and revenues for GE’s power division are not the result of the spread of the coronavirus.Rather, business began to decline in 2018 when several turbine blade failures took out too many GE-made gas turbines. General Electric quickly began responding, but its institutional customers were reluctant to do so until it became clear that the company’s turbines would not fail for a long time.It’s also naive to ignore the fact that around the same time that GE turbine blades began to fail, alternative energy sources were undergoing a real revolution, leading to a shift away from old technology and toward investment in cleaner, greener technologies. According to IHS Markit, the rate of annual photovoltaic panel installations mor…