Natural Gas Update || June 25 - 26Natural Gas: Bulls Charge Above Supply Zone
Timeframe: 4 Hour
Analysis:
Natural gas is exhibiting bullish signals on the 4-hour chart. The price recently bounced from a supply zone, indicating buying pressure and a potential reversal to the upside. Additionally, a falling wedge pattern appears to be forming, which is a technical indicator that often precedes a price surge.
Key Levels:
Resistance: 235.5 (Recent bounce level)
Target: 245 (Based on the falling wedge pattern)
Support: Supply zone (Level where the price bounced from)
Stop-Loss: Place a stop-loss order below the support level (supply zone) to limit potential losses if the price falls and breaks the pattern.
Risk Management: Always remember to practice proper risk management. Only allocate a small percentage of your capital to this trade and use a stop-loss order to limit potential losses.
Confirmation: A confirmed breakout occurs when the price closes above the resistance level of $2.355 with increased trading volume.
Additional Notes: This analysis is based on technical indicators and should be used in conjunction with other fundamental and market sentiment factors.
Past performance is not necessarily indicative of future results.
Falling Wedge Pattern (Optional):
I hope this TradingView post helps!
