Hello, This is a weekly chart of Natural Gas - on MCX. Weekly Macd is above zero line. Holding recent lows, cud trigger a good upside in NG in coming days/weeks. Probable target is around 750. SL for the trade would be around 450/435. CMP - 501. It seems a disaster for european countries is on its way in coming weeks. if this stands true.
After sharp fall from top of the wave 5 or we can say top of June month, it has fallen in five subdivided pattern as a wave A, which clearly shows that correction is in zigzag pattern, we all know some basic rules for zig-zag correction, that it comes in three subdivisions like A-B-C, and wave A always subdivides into an impulse or leading diagonal, and wave B...
buy on dips for the target of 9.525 any dip will be the buy opportunity and support will be treated as a stoploss as of now keep the position light
Midterm forecast: 3.400 is major support; while this level is not broken, the Midterm wave will be uptrend. We will close our open trades if the Midterm level 3.400 is broken. Technical analysis: While the RSI support #1 at 47 is not broken, the probability of price decrease would be too low. A trough is formed in the daily chart at 3.730 on 08/19/2021, so more...
Trading suggestion: . There is a possibility of temporary retracement to suggested support line (1.78). if so, traders can set orders based on Price Action and expect to reach short-term targets. Technical analysis: . NGAS is in a range bound and the beginning of uptrend is expected. .The price is above the 21-Day WEMA which acts as a dynamic support. ....