Natural Gas: Bubble explosion
Trade: short
Target: $4.85 - $4.75 range
Russian President Vladimir Putin instructed Gazprom to increase supplies to the company's storage facilities in Europe. This announcement of the Russian President pressed gas prices.
XNG/USD has formed a "head-with-shoulders" pattern. The price is about to break through the neckline. After the breakout, we expect a tiny pullback with the retest of the neckline from below. After that, we await a massive down movement with the target at the $4.85 - $4.75 range.
If the price breaks through this range, the next support will be only at $4.20!
Target: $4.85 - $4.75 range
Russian President Vladimir Putin instructed Gazprom to increase supplies to the company's storage facilities in Europe. This announcement of the Russian President pressed gas prices.
XNG/USD has formed a "head-with-shoulders" pattern. The price is about to break through the neckline. After the breakout, we expect a tiny pullback with the retest of the neckline from below. After that, we await a massive down movement with the target at the $4.85 - $4.75 range.
If the price breaks through this range, the next support will be only at $4.20!
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