Natural Gas Levels For 12 August-14 AugustImportant support and Resistance Levels For Natural Gas.
When Market touches the level, the price action plays important roles.
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Natrualgas
Natural Gas is taking support of Upward trendline. Natural Gas is taking support of Upward trendline. It may give bounce from here 50-100 points. It can also add more if come 506-516
Natural gas Cup & handle pattern BONatural gas chart form Cup & handle pattern. It should long CMP 780 for target 860,905 and final target 1085
Naturalgas levels for 12-4-2022Naturalgas reversal points marked. Try to buy in dip today.
Note: Always try to find a good price action patterns or any candle stick patterns in marked zones in smaller timeframe to take entry with small stop loss. If any doubt for take entry in price action patterns, please ask in comment box, i will try to help.
Disclaimer: Im not tip provider and this chart is not indented to take trade in my levels. It is all your own risk.
Don't miss the great buy opportunity in NGASMidterm forecast:
While the price is above the support 1.400, beginning of uptrend is expected.
We make sure when the resistance at 2.250 breaks.
If the support at 1.400 is broken, the short-term forecast -beginning of uptrend- will be invalid.
Technical analysis:
The RSI bounced from the support #1 at 30 and it prevented price from more losses.
While the RSI downtrend #2 is not broken, bearish wave in price would continue.
A trough is formed in daily chart at 1.640 on 07/20/2020, so more gains to resistance(s) 1.900, 2.000, 2.100 and maximum to Major Resistance (2.250) is expected.
Price is above WEMA21, if price drops more, this line can act as dynamic support against more losses.
Relative strength index (RSI) is 58.
Trading suggestion:
. There is a possibility of temporary retracement to suggested support zone (1.650 - 1.550). if so, traders can set orders based on Price Action and expect to reach short-term targets.
Take Profits:
TP1= 1.900
TP2= 2.000
TP3= 2.100
TP4= 2.250
TP5= 2.500
TP6= 2.700
TP7= 2.950
TP8= 3.650
TP9= Free
Once again price at 2.800 levelsPrice as discussed ( check related ideas) took support from the trend line and reached the resistance level 2.800 once again, expecting the price consolidate here and break this resistance levels to reach 2.900 levels which is the actual target for this pattern -> Flat top falling bottom.
