USDNTG trade ideas
💡 NATGAS . Weekly Technical Analysis UpdateMidterm forecast:
While the price is below the resistance 3.000, beginning of downtrend is expected.
We make sure when the support at 2.250 breaks.
If the resistance at 3.000 is broken, the short-term forecast -beginning of downtrend- will be invalid.
Technical analysis:
While the RSI resistance #1 at 52 is not broken, the probability of price increase would be too low.
A trough is formed in daily chart at 2.378 on 12/08/2020, so more gains to resistance(s) 2.700 and maximum to Major Resistance (3.000) is expected.
Price is below WEMA21, if price rises more, this line can act as dynamic resistance against more gains.
Relative strength index (RSI) is 42.
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Natural Gas - Head and Shoulder patternPrice forming head and shoulder pattern and currently at the edge of completing the pattern to break the trend line and fall big. One should only confirm when the price breaks the trend line or the marked levels before shorting the script.
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NATURAL GAS SWING SHORT LEVELSSWING SHORT NATURAL GAS IF IT BREAKS THIS INVERSE FLAG PATTERN ON THE DOWNSIDE FOR THE TARGET OF 2.645
Natural Gas ForecastWe see natural gas again nee down 2.00 /1.60price. Natural gas price 2022 December Under Natural gas price 2.00/1.60 coming possible from 3.10 to 3.90 level. But Friend time not matter when coming down,but 95% sure it's coming down.
I hope our idea help your trading. 🙂
Bullish Shark - Potential Trend Reversal ZoneNG may turn bullish if it takes support in this PRZ. With proper confirmation we can go long, else if pattern gets violated; GO with the existing trend.
Updated previous charts PRZ, as it was violated.
Bullish Shark - Bullish Trend ReversalTaking support around the PRZ of the Bullish Shark Pattern.
Expecting a trend reversal from these levels.
Short NGNG has touched the resistance trend-line of daily time-frame. So the price of NG might fall. So here's my probability study in 4 hours time frame.
Entry: 3.064
Stop Loss: 3.1
Target 1: 2.997
Target 2: 2.957
Disclaimer:
This is the study based on my view. I can be wrong. Please apply your own study for entry, exit & stop loss.
