USDNTG NG price movements over the past two weeks, There's an upside move during the morning session, and a correction or pullback in the evening session.Natural Gas (XNGUSD) forum
USDNTG NG price movements over the past two weeks, There's an upside move during the morning session, and a correction or pullback in the evening session.USDNTG NG formed the M pattern on both 3 hour & 4 hour Time frame. Neckline broken on 6th may, Reversal attempt on 7 may and price recovered quickly. SL hunt attempt on 8th may.Current range is 3.9 & 3.6. now its trading within this range bound zone. if price stay in this level, expect a consolidation and choppy moves.
If broken 3.9, expect 200 to 300 point rally 4.1 - 4.2 upside.
If 3.6 is broken, expect a similar sized drop possible target 3.4 or lower.
NATURALGAS it traded from premium to discount today but the uptrend technically is intact, if however we get one more such move tomorrow then possibly further downward move is likely. So far the buyers are buying aggressively the dips though similar to sep/oct 2024. On the other hand the resistance at 3.80-3.85 is also intact so a tug of war between buyers and sellers.
NATURALGAS you should be following the trend line it bounced from 3.07 and then bounced from 3.42 and now 3.53 thats with low demand next month is going to be hot
NATURALGAS Buyers seems to be back
NATURALGAS that weekly engulfing looking sus with no follow through
NATURALGAS nice head and shoulders forming in weekly chart
NGAS what a battle around the 3.53 level — who wins?
NGAS I took profit. Robot says to wait. But I used my human intuition.
NATURALGAS Almost perfect short term double top this week, and the start of the last rallye barely touched 3.00, maybe this level need be revisited for the stop losses be met.