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 !!!
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