Nat Gas Wed 18 DecScript opened with 5% gap on the upside, which was a surprise for awing traders who carried short position on tuesday. It remained irritating till 7 pm. Once the hope of filling the gap vanished it started creeping on the upside but it wasn't enough to cover the losses incurred due to the gap.
As always market favoured scalpers. Fluctuations were big enough to make money. Scaling in was a bit tricky though for someone who trades manually cause movements were quick. Overall volume was good, getting orders filled wasn't difficult.
Don't carry long positions today. Most of the time market tries to fill the gap of the previous session.
See you all tomorrow!
GNM1! trade ideas
Has been going down for a while now.We've been consolidating near the bottom for a while, and the setup looks promising for a breakout. Fundamentals support this: energy demand is rising, and commodities are becoming increasingly scarce. Technically, we see a double bottom and a head-and-shoulders pattern. Price action is tightening into a pennant-like formation, suggesting an imminent move.
NATGAS: Bullish Continuation is Expected! Here is Why:
The charts are full of distraction, disturbance and are a graveyard of fear and greed which shall not cloud our judgement on the current state of affairs in the NATGAS pair price action which suggests a high likelihood of a coming move up.
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NATGAS Will Explode! BUY!
My dear followers,
I analysed this chart on NATGAS and concluded the following:
The market is trading on 3.268 pivot level.
Bias - Bullish
Technical Indicators: Both Super Trend & Pivot HL indicate a highly probable Bullish continuation.
Target - 3.355
About Used Indicators:
A super-trend indicator is plotted on either above or below the closing price to signal a buy or sell. The indicator changes color, based on whether or not you should be buying. If the super-trend indicator moves below the closing price, the indicator turns green, and it signals an entry point or points to buy.
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WISH YOU ALL LUCK
Natural Gas Breakout From TrendlineNatural Gas (4-Hour Timeframe)
Pattern Formation:
Falling Trendline: Price is testing the descending trendline, signaling a potential breakout.
Supply Zone: A supply zone is visible around the 277-281 levels, where price action could face resistance.
Support: 259-260 zone, acting as a strong base.
Immediate Resistance: 277-281 supply zone.
Targets Upon Breakout:
Target 1: 276
Target 2: 279
Target 3: 281
EMA Support: The price is holding above the 55 EMA (266.7), indicating potential bullish momentum if sustained.
Outlook: A break and close above the supply zone could trigger a bullish rally.
Failure to break the trendline might see a retracement back to the support zone.
Risk Management:
Stop-loss should be placed below the 260 support zone for bullish trades.
Disclaimer: This technical analysis is for informational purposes only and is not financial advice. Always trade responsibly and manage your risk effectively.
NATGAS: Bearish Forecast & Outlook
The charts are full of distraction, disturbance and are a graveyard of fear and greed which shall not cloud our judgement on the current state of affairs in the NATGAS pair price action which suggests a high likelihood of a coming move down.
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NATGAS What Next? SELL!
My dear subscribers,
My technical analysis for NATGAS is below:
The price is coiling around a solid key level - 3.106
Bias - Bearish
Technical Indicators: Pivot Points Low anticipates a potential price reversal.
Super trend shows a clear sell, giving a perfect indicators' convergence.
Goal - 3.067
About Used Indicators:
By the very nature of the supertrend indicator, it offers firm support and resistance levels for traders to enter and exit trades. Additionally, it also provides signals for setting stop losses
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WISH YOU ALL LUCK
NATGAS BULLISH REBOUND AHEAD|LONG|
✅NATGAS will be retesting a support level of 3.128$ soon
From where I am expecting a bullish reaction
With the price going up but we need
To wait for a reversal pattern to form
Before entering the trade, so that we
Get a higher success probability of the trade
LONG🚀
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NATURAL GAS Final push before peakingNatural Gas (NG1!) rose and hit our 2.900 Target called on our last analysis (August 29, see chart below) and after a pull-back, broke above the Triangle:
The Triangle transitioned to a Channel Up and the price is already near the end of its Bullish Leg. The 1W MA200 (red trend-line) is the long-term Resistance (untouched since January 17 2023) so only above it can we justify a new bullish trend.
Until then, our Target is 3.745, which represents a +99.50% rise from the last Higher Low, which is the same % rise as the first Bullish Leg of the Channel Up.
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