In our previous article, we discussed impulsive wave C and its continuation. On 20 January 2023 , Price achieved our all given targets.
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Timeframe :
MCX Natural gas has accomplished the corrective wave B and started falling for impulsive wave C. Price has given a reversal from previous wave C,...
Levels:
Support: 430, 400, 380, 350
Resistance: 450, 500-520, 550
OI Data (23rd Jan Expiry):
Nearest Major Resistance in Crude per OI data: 450
Nearest Major Support in Crude per IO data: 400
Trade setup:
1. Looking at the OI data, most likely range-round is: 400-500
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Trade | Level | SL | T1 |...
Natural gas is out from the supply zone. If it doesn't come down to the supply area, a solid uptrend is waiting ahead. We may see crude oil prices at 280 - 300 - 320+ in the upcoming months.
MCX Natural gas has made head and shoulders patterns on the weekly timeframe. And the two shoulders are overlapping. Sell confirmation is line breakout.
Recently, it has broken 200 moving average. If it shows closing price below the neckline and 200 MA consecutively, NG will fall nonstop.
X and Y are the formation's size. Here is the value of x 100 and y 74....
Natural gas started to make the head and shoulders pattern on the daily timeframe. First of all, let's understand some basics about the head and shoulders pattern. Here, it's a bearish head and shoulders pattern. In this pattern, the trend starts with the uptrend and makes the left shoulder, head, and the right shoulder. And after the completion of the right...
According to this chart, MCX Natural gas is further advance. We may see the following levels after a reversal.
Targets: 234.6 - 263.9 - 305.6
Intraday traders can run with 20 & 50 MA crossover. And long-term traders should stick with 200 MA to maximize profits.
Significant releases or events that may affect the movement of natural gas on Wednesday, Oct...
