Midterm forecast:
. While the price is above the support 1.550, beginning of uptrend is expected.
. We make sure when the resistance at 2.250 breaks.
. If the support at 1.550 is broken, the short-term forecast -beginning of uptrend- will be invalid.
Technical analysis:
. While the RSI downtrend #1 is not broken, bearish wave in price would continue.
. A peak...
Price action seems like accumulation is underway. If we witness a breakout Immediate target of $2.3 is quite possible.
Long on pullback will be a good idea.
Views are for ‘’EDUCATIONAL PURPOSE ONLY’’ trade at your own risk.
"Always Respect Risk"
Happy Trading
Jai Hind
Dhiraj Singh Bais
Warrior @ Battle field
View for long was posted on 19 Apr 20 & Natural Gas hit2 targets with profit of +16.31%
Followup trade
closed
Views are for ‘’EDUCATIONAL PURPOSE ONLY’’ trade at your own risk.
"Always Respect Risk"
Happy Trading
Jai Hind
Dhiraj Singh Bais
Warrior...
Trading suggestion:
. There is a possibility of temporary retracement to suggested support line (2.1). if so, traders can set orders based on Price Action and expect to reach short-term targets.
Technical analysis:
. NATURALGAS 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....
The price is taking considerable resistance against the dynamic resistance/trend line.
A strong price rejection can be seen in 4 hours time-frame. This could attract more sellers or even make the existing buyers to change side.
Overall a channel is formed. However, we can see more or less similar volume of buyers and sellers during both corrective and impulse...
Ascending triangle pattern is seen in NG (like in crude yesterday), this implies buyers are in control.
The price comfortably closed above the triangle's top (1.730 zone).
Buyers can push the price higher from here till next supply zone of 1.825 to 1.850. Post which they would take a breathe or rest - will be decided later.
As of now, its a temporary buy.
Carrying...
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.
....
