WEEKLY CHART LNG slight selling pressure
Bearish Signal
Price nearing upper range of recent performance, potential resistance near high of $178.45
Bullish Signal
Consistent upward trend, potential breakout above $178.45, BULLISH ENGULFING
Immediate Support Target $176.65 (target 1) (bounce area 1)
Next Support Target $173.90 (target 2) (bounce area 2)
Immediate Resistance $178.45 (stop/loss area range)
Next Resistance None indicated above $178.45 on the chart
50-SMA Support Estimated around $162.56 based on the recent trend
Likely Direction If it breaks above $178.45, further upside. Consolidation is likely if it stays below.
Upside Reversal Break above $178.45 could initiate a new rally
Long Position Strategy (Bullish) Enter near $176.65 or $173.90, target next resistance at $178.45
Short Position Strategy (Bearish) Consider shorting near $178.45 with a stop above this level, targeting lower supports
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.