Short
Natural Gas: Bubble explosion
Trade: short
Target: $4.85 - $4.75 range
Russian President Vladimir Putin instructed Gazprom to increase supplies to the company's storage facilities in Europe. This announcement of the Russian President pressed gas prices.
XNG/USD has formed a "head-with-shoulders" pattern. The price is about to break through the neckline. After the breakout, we expect a tiny pullback with the retest of the neckline from below. After that, we await a massive down movement with the target at the $4.85 - $4.75 range.
If the price breaks through this range, the next support will be only at $4.20!
Target: $4.85 - $4.75 range
Russian President Vladimir Putin instructed Gazprom to increase supplies to the company's storage facilities in Europe. This announcement of the Russian President pressed gas prices.
XNG/USD has formed a "head-with-shoulders" pattern. The price is about to break through the neckline. After the breakout, we expect a tiny pullback with the retest of the neckline from below. After that, we await a massive down movement with the target at the $4.85 - $4.75 range.
If the price breaks through this range, the next support will be only at $4.20!
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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.