A few Points:
- RSI divergence: higher lows on the RSI versus lower lows on weekly candles;
- This weeks' candle was a truncated wedge, very eager Bulls that bought before a lower low was established
- Strong magnet back to Lockdown lows
Trade active
- NG is in a tight Bull Channel- On the daily a wedge has been formed, Pullback is expected
- Most probably first another push, Lockdown Lows are a strong magent before a substantial drop of prices
- ~3.0 mark might form future baseline (support)
- From there further upward projections towards next target, i.e. major gap on the weekly (~6.0)
- Note the RSI/price action divergence on the daily timeframe
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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.