Natural Gas AnalysisThis analysis is based on Breakout retest and Diversion in Price and RSI
I have seen this 1 hr of time frame whenever diversion is there after breakout a consolidation will happen
and same thing might get repeat here so small correction and then distribution will get start.
Upside is limited.
Commodity are cyclic in nature.
SL 391
Target would be below 370
Italian PSV Natural Gas Futures
No trades
Market insights
natural gas : good breakout candidate watch out...natural gas : 309.60
trade set up :
1. buy above 318
2. keep stop loss as 292 on closing basis
3. targets 333/359+++
technical buy set up:
1. rounding bottom pattern
2. resistance breakout
3. multiple time frame analysis
4. volume
note :
this commodity index is on the verge of multiyear price breakout .
month on month volume built up is huge too.
inside the pattern it has done a trend line breakout at 290 price level with huge volume.
good bullish structure formation seen near breakout price watch out...
NATURAL GASNatural gas has given breakout from ending diagonal pattern with good intensity of volume,
one can go long at these levels or in dips (if any) with stoploss of 283 for targets of 295, 302, 308 and 313
breakout structure
macd positive croosover
rsi scenerio
rsi divergence
Disclaimer
I am not sebi registered analyst
My studies are for educational purpose only
Consult your financial advisor before trading or investing






















