Natural Gas: Why You Need to Buy and Hold Gold NowNatural 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.
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Natural Gas Intraday Support - Resistance Levels For 18/05/2021Intra Day Support (1) for 18/05/2021 226
Intra Day Support (2) for 18/05/2021 222.90
Intra Day Support (3)for 18/05/2021 222
Trading Range for 18/05/2021 is 232-217
Natural Gas Intraday Support - Resistance Levels For 17/05/2021Intra Day Resistance (1) for 17/05/2021 219
Intra Day Resistance (2) for 17/05/2021 217.70
Intra Day Resistance (3)for 17/05/2021 216.80
Trading Range for 17/05/2021 is 222-215
Natural Gas Intraday Support - Resistance Levels For 14/05/2021Intra Day Suppoet (1) for 13/05/2021 218.40
Intra Day Support (2) for 13/05/2021 218
Intra Day Support (3)for 13/05/2021 217.40
Trading Range for 14/05/2021 is 215-221
MCX Natural Gas Head and Shoulders Trading SetupMCX 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. So, according to H&S formation, it can collapse up to 112 - 86 .
Hurdle: 196
Short-term targets: 170 - 168
Long-term targets: 146 - 136
Here are H&S, RSI, MA, and DMI throwing sell signals.
Is Natural Gas Ready to Complete a "Head and Shoulders"?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 shoulder, it falls by breaking the neckline.
In this chart, the trend completed the left shoulder, and the head is almost there. And then it will create the right shoulder. It will fall up to the neckline to complete the formation of the head. And the targets to reach the neckline are as following 180 - 175 - 168 .
After hitting the neckline, the next step of natural gas will be the right shoulder. As per the rules, the right shoulder can be similar to the left shoulder or, it can be at a higher level than the left shoulder. Because the left shoulder is at 203 , the trend will march again to 203 to make the right shoulder. To reach 203, natural gas will hit 180 - 190 - 200 .
And then the trend will take reversal and fall by breaking the neckline. Targets: 195 - 185 - 175 .
