NATURALGAS1! trade ideas
Descending triangle breakout and base formation, Buy above 227.5Descending triangle breakout and base formation, Buy above 227.5
T1- 230.5
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
