Natural gas/usd will go upNatural gas trend will go down till support line of aroud 2.165, then, it will go up.
What do you think about that?
Naturalgasanalysis
Natural Gas Support level hitAs you can see on the chart, natural gas has hit a support level and i'm sure a lot of buyers are rolling into the market now. You may buy now but make allowances for the fact that support could get broken.
DISCLAIMER
Please note that this chart is an opinion based chart only. Please trade at your own risk
Natural Gas - Midterm OutlookTrade setup for Natural Gas
Confluence
- Daily Mid range entry
- Demand Block
Bullish target reached, now pulling back to gather momentum forNG has reached our previous TP = 2.900 and now faces the Resistance of the High extreme line. 4H is a Channel Up but has reached near overbought levels (RSI = 69.332, STOCHRSI = 92.540, Williams = -19.847) with 2.881 its support/ Higher Low. This is expected to break and move to the Higher Low of the proper 1D Channel Up (RSI = 65.173, Highs/Lows = 0.0691) near 2.779. The 2.779 - 2.830 area is a buy zone for the next bullish leg to 3.000 (TP). If it makes also a low "extreme" near 2.747 it shouldn't alarm us since it's been also done on March 26.
Medium term Uptrend on Natural GasThe price is on a 1D Channel Up (RSI = 57.179, Highs/Lows = 0.011). As seen on the chart a Higher Low needs to be price and we have two scenarios for that: soft support at 2.765 and hard support at 2.740. We will use both spots as long entries for a potential Higher High TP = 2.900.
