NG Bearish Scenario
As you see in the chart, we are in a downtrend and there is a resistance level at 4.182 which has pushed the price to the downside.
Currently, price is facing a bullish pressure which may push it to retest the resistance level one more time (We may see a double top pattern creation).
There’s a support level at 3.962, and if price breaks this level to the downside and closes a bearish candle below this level, I expect a drop on NG to 3.852 and 3.700
Otherwise, if price breaks the resistance at 4.182 to the upside with bullish candle closure, the bearish scenario is invalid and we expect a rise to the next major high around 4.400
Currently, price is facing a bullish pressure which may push it to retest the resistance level one more time (We may see a double top pattern creation).
There’s a support level at 3.962, and if price breaks this level to the downside and closes a bearish candle below this level, I expect a drop on NG to 3.852 and 3.700
Otherwise, if price breaks the resistance at 4.182 to the upside with bullish candle closure, the bearish scenario is invalid and we expect a rise to the next major high around 4.400
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