D1 - Price is bouncing lower from a strong resistance zone. Bearish convergence. H4 - Bearish trend pattern Until the strong resistance zone holds I expect the price to move lower further after pullbacks.
Gas Fib Retracement - Long Order Entry: $2.407 TP & RR: $2.549 (3.38) Stop Loss: $2.365 REASONS FOR THE TRADE So far Gas has respected the Fibonacci levels twice, leading me to believe that we may see a bounce from the 0.236 level and a potential reversal. We also have a descending trendline, which I am not sure how well will be respected, but it's worth...
NATGAS SELL TP_2.261_15.32%_0.409pips_SL_2.751_3.41%_0.091pips
Gas Upper Trendline - Short Trade Entry: $2.845 TP & RR: $2.693 (2.08) Stop Loss: $2.918 REASONS FOR THE TRADE After the breakout from the descending channel, we see the price sliding up an inclined trend line. However, the price is now reaching major resistance and I believe there will be a small pullback before potential continuation to the 1.618 Fib...
In my own opinion, since Natural Gas first landed on the market in 2004, it has 1 all time low at 1.574, which is lower than 2004 and since then we have never tested this bottom again. I think with news of coronavirus, it is the perfect opportunity for this level to be tested and i think it will go much further down creating a new low for natural...
NATGAS SELL TP_1.730_5.21%_0.095pips_SL_1.851_1.42%_0.026pips
Stochastic and RSI suggest we are at oversold levels while price action moves into strong support. Expected move upward.