NG Both Sides
As you see in the chart, price is moving in the ascending parallel channel and currently, it has been pushed to the upside after retesting the channel’s lower band.
If price breaks the red resistance level at 4.515 and closes a bullish candle above this level, we can expect a rise on NG to the channel upper band.
On the other hand, since we should always consider the another side either, if price breaks the yellow support zone around 4.300 and closes below this level, the bullish scenario is canceled and price may drop to 4.00
If price breaks the red resistance level at 4.515 and closes a bullish candle above this level, we can expect a rise on NG to the channel upper band.
On the other hand, since we should always consider the another side either, if price breaks the yellow support zone around 4.300 and closes below this level, the bullish scenario is canceled and price may drop to 4.00
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.