💡NGAS (NAT.GAS) - Weekly Technical Analysis UpdateMidterm forecast:
While the price is above the support 5.194, resumption of uptrend is expected.
We make sure when the resistance at 8.176 breaks.
If the support at 5.194 is broken, the short-term forecast -resumption of uptrend- will be invalid.
Technical analysis:
While the RSI support #1 at 43 is not broken, the probability of price decrease would be too low.
A trough is formed in daily chart at 6.485 on 04/25/2022, so more gains to resistance(s) 7.458 and maximum to Major Resistance (8.176) 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 61.
Supports and Resistances:
8.827
8.176
7.458
6.520
5.835
5.194
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Natural Gas
NATURAL GAS LOOKING GOOD IN 4HR TIME FRAMENatural gas is looking bullish
REASONS
1. Recently given a breakout of its flag and pole pattern.
2. Breakout of an inverted head and shoulder pattern.
Reasons for the target and stop-loss
1. the high of this commodity has been taken as a target as per the rules of the pattern.
2. volume profile is also supporting this commodity and also the 50ema.
3. so with the support of both indicators stop loss had been set.
Naturalgas level not changedThere is no change in yesterdays level since market halted above buy zone and immediate sell channel very near.
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 you follow diagonal trendlines you can take entry and exit easily.
(Color code (only for diagonal trendlines ): green - bullish , red - bearish , black & violet reversal points). 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 shared here for learning purpose. It is all your own risk.
Naturalgas levels for 26-4-20022Try to find good price action pattern for sell near sell zones.
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 you follow diagonal trendlines you can take entry and exit easily. (Color code (only for diagonal trendlines ): green - bullish, red - bearish, black & violet reversal points). 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 shared here for learning purpose. It is all your own risk.
Natural gas levels for 19-4-2022Naturalgas in a mode to break highs and higher highs. Try to find dips to buy.
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 you follow diagonal trendlines you can take entry and exit easily. (Color code (only for diagonal trendlines ): green - bullish , red - bearish , black & violet reversal points). 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 shared here for learning purpose. It is all your own risk.
Naturalgas levels based on 14-4-2022 market closingI was expected to reverse NG will reverse and test 445, 414 range and again will fly, but it broken stops yesterday.
My next reversal points marked based on 14-4-2022 market closing. We will see how Monday react this levels.
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 you follow diagonal trendlines you can take entry and exit easily. ( Color code: green - bullish, red - bearish, black & violet reversal points). 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.
Naturalgas level for 11-4-2022Naturalgas view almost same as 7-4-2022 chart posted
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.
NG levels for 7-4-2022Natural gas also showing similar mixed patterns today. so act smart 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.
Naturalgas level for 6-4-2022Perfectly broke above yesterdays marked level and started fly, try to find dip to buy today also.
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.
Disclaimer: Im not tip provider and this chart is not indented to take trade in my levels. It is all your own risk.
Naturalgal levels for 5-4-2022Naturalgas at crucial location. Break above will fly, and trendline below not expecting big downfall.
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.
Disclaimer: Im not tip provider and this chart is not indented to take trade in my levels. It is all your own risk.
Naturalgas is almost near the upper trendlineNaturalgas was in uptrend previous week, and almost near its reversal zone.
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.
Disclaimer: Im not tip provider and this chart is not indented to take trade in my levels. It is all your own risk.
NATURAL GAS FUTURES ANALYSISHello, natural gas futures analysis & mid-term swing trade buy: 414 targets: 485/576 stoploss: 346.
LOGIC BEHIND TRADE: Natural gas futures 1w chart has formed W pattern & given breakout of resistance (targets identified from harmonic abcd/xabcd pattern level 1.414) stoploss is taken low of resistance candle if sustains above al time high can go upto 576. MCX:NATURALGAS1!
Natural gas level for 25-3-2022It is very good setup to buy on dip till upper trendline reach.
Note: Always try to find a good price action patterns or any candle stick patterns in marked zones to take entry with small stoploss.
Disclaimer: Im not tip provider and this chart is not indented to take trade in my levels. It is all your own risk.
Natural Gas for short term Shorting Since 06-OCt Natural Gas is in a corrective move and is forming a Flat In Black ((A)) ((B)) ((C)).
It seems in formation of Last leg (5) Blue down as indicated in chart this will complete correction and one can look for BUYING opportunity for long term.
However to encash the smaller move in Wave (5) blue we have initiated a sell position with stop loss @ 4.045 in international market. MCX will follow same trend and corresponding trade can be initiated in MCX.
And after completion of Wave (5) in Blue we will be entering for a Long position for Higher Targets
Disclaimer:
These are personal views for academic purpose , if anyone wants to trade please access your risk and consult with your financial advisor