NATURALGAS WEEKLY UPDATE - JULY 1st - 5thNatural Gas Braces for Potential Rangebound Bearishness
Current Situation: Natural gas appears to be settling into a potential rangebound pattern with key levels to watch.
Support: The support level sits at 211.9. A break below this point could signal further downside movement.
Resistance: Overhead resistance is located at 220. A decisive break above this level could indicate a potential trend reversal towards the upside.
Bearish Bias: While the rangebound pattern suggests some consolidation, the overall sentiment leans bearish. This is based on (you can add specific reasons here, for example: recent price decline, technical indicators, or fundamental factors).
Selling (shorting) if the price breaks decisively below support at 211.9, with a stop-loss order placed above resistance.
Waiting for a confirmed breakout above resistance before entering long positions.
Important Considerations:
The market can be unpredictable. It's crucial to conduct your own research and utilize risk management strategies like stop-loss orders.
This information is for educational purposes only and should not be considered financial advice.
