QG1! trade ideas
MCX Natural Gas Long-Term Outlook - Target 300+According to this chart, MCX Natural gas is further advance. We may see the following levels after a reversal.
Targets: 234.6 - 263.9 - 305.6
Intraday traders can run with 20 & 50 MA crossover. And long-term traders should stick with 200 MA to maximize profits.
Significant releases or events that may affect the movement of natural gas on Wednesday, Oct 28, 2020 :
02:00: U.S. API Weekly Crude Stock
20:00: U.S. Crude Oil Inventories
20:00: EIA Weekly Refinery Crude Runs
20:00: U.S. Crude Oil Imports
20:00: U.S. Cushing Crude Oil Inventories
20:00: U.S. Gasoline Production
20:00: U.S. Heating Oil Stockpiles
20:00: U.S. Gasoline Inventories
[Commodity] Natural Gas Pennat PatternAs per charts.
Reason of bearish view - Fundamentals. Will skip if the buy triggers.
Will skip if the trade doesn't trigger in next two candles. In that case it will dictate consolidation
Elliot wave Analysis # Bullish SequenceIn Technical Analysis, most of the analyst ignore Parallel channels
Parallel channel is most under rated tool in T.A., but as per my study its one of the best tool to apply while analyzing the instruments
# Parallel Channel Technique
MCX:NATURALGAS1!
Natural gas levels for 4-10-2020Hi,
Time frame- 30min for good trend decision and clarity of trade.
RSI is moving above 45 and will cross 50 soon
The level is decided on fib level and Ichimoku conversion and baseline, as per current trend the support has taken on previous dynamic level i.e. 179.5
also conversion line is showing upside and price is above blueline i.e. Conversion; closing above red i.e. Base line price can break cloud which is acting as resistance from several days can see good uptrend in upcoming days.
All analysis done on technical indicators and volume. kindly take is as learning.
Thanks for the reading my post.
