Natural Gas has broken out from the head and shoulder reversal pattern on the hourly timeframe. On the daily as well it seems to be forming a reversal pattern and hence the longs have a good chance of succeeding in this environment. Moreover it looks like the previous move was more of a correction rather than an impulse move down. Stops below the right shoulder...
Midterm forecast: 4.160 is a major support, while this level is not broken, the Midterm wave will be uptrend. We will close our open trades, if the Midterm level 4.160 is broken. Technical analysis: A trough is formed in daily chart at 3.730 on 08/19/2021, so more gains to resistance(s) 5.000 and more heights is expected. Price is above WEMA21, if price...
Getting closer to the neckline (Head & Shoulders Pattern). But before that happens some upside(correction) is left