Seasonally, April is on average a bullish month for Natural Gas and looks to have set up for a similar outcome this year.
It has made a huge double bottom on the daily with a extreme bullish RSI divergence and you can see a similar positive RSI set up on the hourly and the 4 hour chart as presented in my post.
My target is modest 3 which would is the most recent resistance tested on the 3rd of March and a increase of 46%.
Good luck!
It has made a huge double bottom on the daily with a extreme bullish RSI divergence and you can see a similar positive RSI set up on the hourly and the 4 hour chart as presented in my post.
My target is modest 3 which would is the most recent resistance tested on the 3rd of March and a increase of 46%.
Good luck!
Trade active
With a correction to the base of the rectangle allows for an opportunity to buy in if you missed out initially. Bullish RSI divergence reloaded.Note
We can now see that a diamond harmonic pattern has manifested which often suggest a turn in the direction of the price trend, which in this case would be a bullish turn.
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Looks like a correction after breaking out of the bullish diamond pattern reversal
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Retested the diamond reversal pattern and looks to be on it's way up.
Note
Onto 2450 after breaking resistance
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Support found once again, but as a result has developed a H&S pattern which needs to be invalidated. Otherwise we might have trouble. A lot of shorts could be trapped as a result of the H&S.Trade active
A cup and handle has formed. If it breakout then we are in for some bags Trade closed: target reached
Well April did turn out to be bullish. Hope anyone following cashed out before May which filled the gap below!
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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.