Short

Natural Gas, 4-Hour, Head and Shoulders

Updated

Due to a head and shoulders pattern, a trend break, a supply reaction and an RSI divergence, I predict a decrease in natural gas' price.

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The first target (demand zone) reached.

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The second target reached.

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The idea is even current now. The second demand zone worked perfectly (also within a red indecision candle demand area, which is not marked down). Then there was a reaction to the resistance as the complement of the head and shoulders pattern.

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Now we can see that an even bigger head and shoulders pattern has developed. In order to complete the formation, it is necessary to return to retracements of the lowest zone.

MichaelFX_ICT

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