I don't have a working cycle count in NatGas right now as I haven't traded it since it topped earlier last year.
This is a falling knife.
2 days ago we lost 3.300. That was the 2021.02.18 top and the Fibonacci 78,6% retracement level. As we broke below that level I see nothing until 2.442 and 2.267.
If anyone wants to long this needs to wait at least a reversal candlestick pattern but I wouldn't try any long position before price drops between 2.442 and 2.267.
This is a falling knife.
2 days ago we lost 3.300. That was the 2021.02.18 top and the Fibonacci 78,6% retracement level. As we broke below that level I see nothing until 2.442 and 2.267.
If anyone wants to long this needs to wait at least a reversal candlestick pattern but I wouldn't try any long position before price drops between 2.442 and 2.267.
Note
The red arrow drop what I highlighted on the last picture is just a possible scenario what may or may not happenDisclaimer
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.