Levels are Updated Each Level act as Resistance and Support and vice versa..
Last week's price action was shaky and scary. But i am still holding on to my bullish opinion. Looking for Buy setups in smaller Timeframes
After the successful retest, no harm in getting bullish Natural Gas. Seasonal tendencies are Favourable during this time. BUT one thing that is concerning me is Commercials getting Bearish. But that can happen and its OK. Still my advice is to keep a strict stop loss and TRAIL it.
In Continuation with my Last weeks commentary, I am patiently waiting the test of the Breakout AREA. However keep in mind, The intensity and structure of the test will be very crucial before taking a decision to go Long. But Seasonal s and Technical s Favour LONGS. Happy Trading NG!!!
For coming several weeks, i will advise to trade NG on Long Side. Albeit with a good entry method and a strict stoploss.
Stay Away for a While. If not prefer shot side with strict stoploss
If the Pink Area Holds & Stops the Down Move, NG may present some VERY GOOD BUYING Opportunity Here.
Great Opportunity. NG Reaching Critical Resistance with HUGE GAP staring Below. But Use Tight Stops, as Seasonal Upward Move Tendencies are approaching!!!
My View Natural Gas Weakly Chart 2 Gap Show Weakly Chart And Show Head And Shoulder Pattern Close Above Neckline Fill The Gap And Touch 4.30 0..... My View Only Close Above Neckline... and Any Change Update....Also Time 2 Time Remember In Prayer And Help 4 Every 1.....
And also check my last update on NG. After Channel breakout now trading above 161.8%. So will undergo correction till 3.15, so I am adding my long position now and if correct near to 3.15 will add more for the target of 4.5 in short term. Keep the stop loss near 3.
Upside remains suspect. On Downside, I Have Given My Arguments. Lets Watch Closely
Description on the chart itself. Happy trading Regards Raj
After a consolidation between $2.5 and $3, NG if manages to close above $3, can trigger a move as mentioned in the chart.
On monthly chart, the price action indicates a change in trend. Why is it a Change in Trend: 1. Price action making lower Highs (LH) and Lower Lows (LH) on monthly chart created a downward trend channel. 2. Now the price action made a Higher Low (HL) as indicated in above chart that indicates rejection of lower prices and buyers entering market to control...
Longs Wait till decisive Break of 3.00 on weekly basis. The Triple top could result in a sharp upmove (Bull Trap) & then Down for a correction !!!