Natural Gas Short
Price breached resistance with a strong red candlestick. We were overbought on RSI and we are in a pullback that may reach first the white line at $2.34.
MACD supports this, as the histogram shows strong downward selling pressure and the MACD is below the signal line in the 4H chart.
Also we are looking a divergence in RSI, doing lower lows, but we still have to wait for price to see if it will rebound before reaching the white line to have the divergence in price completed and with a new local higher low, but until so, Natural Gas is bearish.
MACD supports this, as the histogram shows strong downward selling pressure and the MACD is below the signal line in the 4H chart.
Also we are looking a divergence in RSI, doing lower lows, but we still have to wait for price to see if it will rebound before reaching the white line to have the divergence in price completed and with a new local higher low, but until so, Natural Gas is bearish.
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.