Descending triangle breakout and base formation, Buy above 227.5Descending triangle breakout and base formation, Buy above 227.5
T1- 230.5
NATGASMINI1! trade ideas
MCX Natural Gas Long-Term Outlook - Target 300+According to this chart, MCX Natural gas is further advance. We may see the following levels after a reversal.
Targets: 234.6 - 263.9 - 305.6
Intraday traders can run with 20 & 50 MA crossover. And long-term traders should stick with 200 MA to maximize profits.
Significant releases or events that may affect the movement of natural gas on Wednesday, Oct 28, 2020 :
02:00: U.S. API Weekly Crude Stock
20:00: U.S. Crude Oil Inventories
20:00: EIA Weekly Refinery Crude Runs
20:00: U.S. Crude Oil Imports
20:00: U.S. Cushing Crude Oil Inventories
20:00: U.S. Gasoline Production
20:00: U.S. Heating Oil Stockpiles
20:00: U.S. Gasoline Inventories
[Commodity] Natural Gas Pennat PatternAs per charts.
Reason of bearish view - Fundamentals. Will skip if the buy triggers.
Will skip if the trade doesn't trigger in next two candles. In that case it will dictate consolidation
Elliot wave Analysis # Bullish SequenceIn Technical Analysis, most of the analyst ignore Parallel channels
Parallel channel is most under rated tool in T.A., but as per my study its one of the best tool to apply while analyzing the instruments
# Parallel Channel Technique
MCX:NATURALGAS1!
