NaturalGas enters resistance zone. H4 25.11.2024
Updated
⛽️ NaturalGas enters resistance zone 📉
On gas the price has entered the zone of strong resistance 3.51-3.63 from which I expect a new exit of the price down. Now on the comeback a false break above is possible, but in general the zone for selling is strong. I aim for a bounce down to 3.0 and 3.15, and there will clarify. The main support is near 3.0 and there is the boundary of the ascending channel from which they can bounce up again.
NGAS
On gas the price has entered the zone of strong resistance 3.51-3.63 from which I expect a new exit of the price down. Now on the comeback a false break above is possible, but in general the zone for selling is strong. I aim for a bounce down to 3.0 and 3.15, and there will clarify. The main support is near 3.0 and there is the boundary of the ascending channel from which they can bounce up again.
NGAS Trade active
#NaturalGas in the process of working out 📉
Gas made a perfect workout of last week's trading recommendation on it. The price bounced from the resistance zone 3.51-3.62 and is falling, according to the analysis. I think the nearest fall target is around 2.95+- and it can bounce from there. Near this level is the border of the ascending channel, the zone of buyers and the local support level. In the next post I will show how they look like when the price gets closer. Then a corrective bounce upwards is possible.
Trade closed: target reached
Price Hit TP 3.00
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