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 !!!
Reason : small two wave correction to south to trigger upside spark. Timeframe : Today, around 17.00-19.00 IST.
Bollinger Band -20 Period Moving Average-once crossed by Natural Gas ..We will become sure that its heaading for its last leg in the C-Wave.
Looking for last leg in Natural gas to complete & face resistance at the polarity zone & XX -previous swing.
Natural Gas staying Above 2.590 & Moving Above 20 period MA(shown by pink line) can take NG in the zone of 3.100 to 3.150 -previous swing high of XX -mark where it shall get resistance & if that level holds -then going back below 2.590. It shall start falling in an impulsive leg down. Regards, Abhishek H.Singh, CMT