Watch out for Natural gass move...
Updated
e see lately the rally of the natura gass trying to change it's trend upwards.
Some traders might disagree and they think that natural gass already change it's momentum.
Yes i agree with them short-term but i stronly believe mid-term momentum isn't change yet and they should be cautious..
There is a possibility to witness a bearish flag pattern and nothing more here.
Don't forget we are talking about a seasonal product.
We can also see the profit taking at these levels as i mentioned before and the weakness of the market to validate 50% Fib level at 3,250$ don't even mention 61,8% Fib level at 3,400$ level.
3,250 very well respected ressistance/support through the years.
We want to see creating higher lows and higher highs above these levels mentioned, to validate the mid-term ternd that we can see at the chart since previous year.
We also see the price hitting top Bband.
Stoch RSI% at overbought levels.
ADX still hasn't validate 20 level to create positive trend.
HAPPY TRADING GUYS!!
Some traders might disagree and they think that natural gass already change it's momentum.
Yes i agree with them short-term but i stronly believe mid-term momentum isn't change yet and they should be cautious..
There is a possibility to witness a bearish flag pattern and nothing more here.
Don't forget we are talking about a seasonal product.
We can also see the profit taking at these levels as i mentioned before and the weakness of the market to validate 50% Fib level at 3,250$ don't even mention 61,8% Fib level at 3,400$ level.
3,250 very well respected ressistance/support through the years.
We want to see creating higher lows and higher highs above these levels mentioned, to validate the mid-term ternd that we can see at the chart since previous year.
We also see the price hitting top Bband.
Stoch RSI% at overbought levels.
ADX still hasn't validate 20 level to create positive trend.
HAPPY TRADING GUYS!!
Note
Sorry for the typing errors my pc just isn't working as it should lately..lolTrade active
we cann see how price followed that trend line since last year..Note
As i mentioned at this article successfully we can see Natural Gas breaking it's trend downwards and now we are for 3$ level.we want to keep that level at least we need to bounced back from 2,965 $ level.Note
Bounced back from 61,8% Fib retracement of the descending move and that's why are not still on bullish mode.
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