NaturalGas NG , expecting more supply
Note : please consider that I am not a licensed Analyst and please get advise from them before taking any trades , Education is the sole purpose ! please show your support by your likes.
JKM1! trade ideas
NATURALGAS MCXexpecting further downside!
Note: I am not a registered analyst , whatever posting here is for just educational purpose only ,please consider to confirm with your registered analyst before trading ! Please show your support by giving your likes :) MCX:NATURALGAS1!
Natural Gas: Head and shoulder1. Head and shoulder spotted in 2 HR.
2. wait for the breakout
3. enter on the breakout
4. If any divergence exist at the neckline, probability of rejection becomes higher and be cautious and prepare for the rejection trade!
5. IMPORTANT: current month is expiring today and the new month if priced in the current month chart, already above the neckline!
The new month contract's chart:
Natural gas fut CMP 127.6 Short for Target 126.5- 125- 1245- 122Natural gas fut CMP 127.6 Short for Target 126.5- 125- 1245- 122.9+
Ng fut CMP 122.2 buy for target 123.5-125-126-128-130+Ng fut CMP 122.2 buy for target 123.5-125-126-128-130+
Natural gas July fut best buy at 117-118 with 114.9 as Stop lossReason to initiate buy is harmonics shark pattern at 117-118.
Natural Gas MCX NG buyers are getting activated and they may push the price as shown in the highlighted areas ,before the pull down to the final leg towards downside completing WXY pattern.
