Natural Gas (NG) Weekly Breakout Brewing — 80% Upside Potential!
Current Price: $3.090
Technical View (Weekly Timeframe):
Natural Gas has formed a classic falling wedge pattern on the weekly chart - a strong bullish reversal setup. Price action is currently on the verge of breakout, with increasing volume and narrowing range suggesting imminent movement.
🟢 Strong Support Zones:
$3.013 – $2.956
$2.692 – $2.643
🔺 Key Resistance / Upside Targets:
Short-term: $5.125 – $5.630 (Pattern target: $5.625)
Long-term: $9.35 – $10.00
📈 The pattern breakout target of $5.625 aligns closely with the major resistance zone of $5.125 – $5.630, representing a potential ~80% upside from current levels.
Look for confirmed breakout above the wedge resistance with strong volume for trend continuation.
#NaturalGas | #NG | #FallingWedge | #ChartPatterns | #TechnicalAnalysis | #PriceAction
📌 Disclaimer: This analysis is shared for educational purposes only. It is not a buy/sell recommendation. Please do your own research before making any trading decisions.
Technical View (Weekly Timeframe):
Natural Gas has formed a classic falling wedge pattern on the weekly chart - a strong bullish reversal setup. Price action is currently on the verge of breakout, with increasing volume and narrowing range suggesting imminent movement.
🟢 Strong Support Zones:
$3.013 – $2.956
$2.692 – $2.643
🔺 Key Resistance / Upside Targets:
Short-term: $5.125 – $5.630 (Pattern target: $5.625)
Long-term: $9.35 – $10.00
📈 The pattern breakout target of $5.625 aligns closely with the major resistance zone of $5.125 – $5.630, representing a potential ~80% upside from current levels.
Look for confirmed breakout above the wedge resistance with strong volume for trend continuation.
#NaturalGas | #NG | #FallingWedge | #ChartPatterns | #TechnicalAnalysis | #PriceAction
📌 Disclaimer: This analysis is shared for educational purposes only. It is not a buy/sell recommendation. Please do your own research before making any trading decisions.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.