📊 Natural Gas Detailed Analysis – 1HR Timeframe 📊
Pattern Formation & Breakout Potential: Natural Gas has been trading within a falling wedge pattern, a bullish reversal structure, indicating potential upside momentum.
A breakout attempt is visible as the price is trying to sustain above the wedge resistance.
Key Observations
✅ Resistance Zone: 343 - 345 (previous supply zone, acting as resistance)
✅ Support Zone: 330 - 335 (previous accumulation area)
✅ Volume Spike: Increased buying interest indicates strong demand near the lower levels.
✅ EMA (55): Currently acting as dynamic resistance near 342-343. A sustained breakout above this could trigger a further upside move.
🎯 Target Levels:
First Target: 350
Second Target: 354
Extended Target: 360 (if momentum sustains)
🛑 Stop-Loss Strategy: Placing SL below 338 ensures a safe risk-reward ratio in case of a false breakout.
A breakdown below 330 invalidates the bullish setup.
If price breaks above the resistance zone and sustains with strong volume, it can trigger bullish momentum towards 350-354 levels.
However, failure to hold above resistance can result in sideways consolidation or a pullback before the next leg of movement.
Disclaimer: Traders should watch price action closely and wait for confirmation before entering positions.
📢 Stay alert for market developments and manage risk accordingly! 🚀🔥
#NaturalGas #TradingAnalysis #Breakout #CommodityTrading #MCX
Pattern Formation & Breakout Potential: Natural Gas has been trading within a falling wedge pattern, a bullish reversal structure, indicating potential upside momentum.
A breakout attempt is visible as the price is trying to sustain above the wedge resistance.
Key Observations
✅ Resistance Zone: 343 - 345 (previous supply zone, acting as resistance)
✅ Support Zone: 330 - 335 (previous accumulation area)
✅ Volume Spike: Increased buying interest indicates strong demand near the lower levels.
✅ EMA (55): Currently acting as dynamic resistance near 342-343. A sustained breakout above this could trigger a further upside move.
🎯 Target Levels:
First Target: 350
Second Target: 354
Extended Target: 360 (if momentum sustains)
🛑 Stop-Loss Strategy: Placing SL below 338 ensures a safe risk-reward ratio in case of a false breakout.
A breakdown below 330 invalidates the bullish setup.
If price breaks above the resistance zone and sustains with strong volume, it can trigger bullish momentum towards 350-354 levels.
However, failure to hold above resistance can result in sideways consolidation or a pullback before the next leg of movement.
Disclaimer: Traders should watch price action closely and wait for confirmation before entering positions.
📢 Stay alert for market developments and manage risk accordingly! 🚀🔥
#NaturalGas #TradingAnalysis #Breakout #CommodityTrading #MCX
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.
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.