After 9 days uptrend on 21 April 2020 natural gas made a break down with a gap down opening in MCX .there was a consolidation of 2 days before breakdown,
natural gas was in a bearish trend as the temperature in USA going up. but sudden trend reversal triggered by Suez canal ship block issue is still continuing.
Price is showing reversal of trend at 4H time frame. It has made HH - HL to move upwards.
A further break of trendline may give further push to the price and the trend.
If the trend is confirmed, it may quickly move up to hit the next target as mentioned in the chart.
This analysis is purely based on the price movement of NG - Futures.
Note: 29/03/2021 is a...
