Volume-based outlook using VSA methodology and key price levels
🕐 Daily Timeframe (D1):
The April 28 daily bar formed a bullish Wide spread bar on high volume. However, price is now approaching a key resistance zone at 3.4714, where sellers previously showed control.
🕐 Hourly Timeframe (H1):
On the M60 chart, we’re seeing the development of an ascending channel.
Just like on the daily, there’s also a bullish wide-spread bar with high volume, signaling the presence of a strong buyer in the market.
However, we haven’t seen a test of that buying effort yet — I'm marking 3.2556 as a likely test zone.
If price breaks and consolidates above the daily level 3.3714 today, this would confirm buyer strength and open the way toward a breakout above the recent swing high at 3.4501.
If the market closes below 3.3714 today, watch for price action near the 3.2556 test level:
If buyers hold 3.2556 → potential targets:
-3.3714 (retest)
-3.4501 (swing high)
If 3.2556 fails and price consolidates below → watch for a deeper move toward:
-Lower boundary of the current range
-Low of the bullish effort bar at 3.0785
Disclaimer: This content is for educational purposes only and does not constitute financial advice.
#TechnicalAnalysis #DayTrading #VSA #NG #HenryHub #NaturalGas #FuturesTrading #VolumeSpreadAnalysis
🕐 Daily Timeframe (D1):
The April 28 daily bar formed a bullish Wide spread bar on high volume. However, price is now approaching a key resistance zone at 3.4714, where sellers previously showed control.
🕐 Hourly Timeframe (H1):
On the M60 chart, we’re seeing the development of an ascending channel.
Just like on the daily, there’s also a bullish wide-spread bar with high volume, signaling the presence of a strong buyer in the market.
However, we haven’t seen a test of that buying effort yet — I'm marking 3.2556 as a likely test zone.
If price breaks and consolidates above the daily level 3.3714 today, this would confirm buyer strength and open the way toward a breakout above the recent swing high at 3.4501.
If the market closes below 3.3714 today, watch for price action near the 3.2556 test level:
If buyers hold 3.2556 → potential targets:
-3.3714 (retest)
-3.4501 (swing high)
If 3.2556 fails and price consolidates below → watch for a deeper move toward:
-Lower boundary of the current range
-Low of the bullish effort bar at 3.0785
Disclaimer: This content is for educational purposes only and does not constitute financial advice.
#TechnicalAnalysis #DayTrading #VSA #NG #HenryHub #NaturalGas #FuturesTrading #VolumeSpreadAnalysis
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.
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.