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Natural Gas Faces Key Resistance at 3.000 – Bearish SetupNatural Gas futures are currently at a critical juncture, with various technical indicators pointing to a potential bearish trend. Traders and analysts are closely watching the price action as it hovers near a significant resistance level, and the upcoming week could provide further clarity on the direction of the market. While technical signals suggest a downside, broader market dynamics such as supply-demand factors and geopolitical tensions could influence price movements. Based on a comprehensive technical analysis of Natural Gas futures, the commodity is facing a significant resistance level around 3.000, aligning with a strong downward trendline. This suggests a potential bearish movement in the upcoming week, with a key target of 2.527 in sight. A critical observation on the RSI (Relative Strength Index) front indicates further bearish pressure. The multiple RSI analysis, particularly focusing on the 7-period RSI, reveals that it is extending a large distance from other RSI levels, reinforcing a downward bias. This divergence in the RSI suggests that momentum is clearly favoring the bears, pointing to a potential price decline. Additionally, the weekly chart provides further evidence of a bearish setup. A well-established trendline highlights continued resistance to upward movement. Furthermore, the formation of a double-top pattern on the weekly chart adds to the bearish sentiment, as this is typically a reversal pattern that indicates a shift from bullish to bearish conditions. In conclusion, technical indicators, including the downward trendline, RSI divergence, and the double-top pattern, all suggest that Natural Gas may see further downside, with a target of 2.527 looking increasingly likely. However, supply and demand dynamics and geopolitical events, such as Middle East tensions, could influence the market and potentially alter this technical outlook. Traders should closely monitor these factors, as any disruption in supply chains or changes in demand may trigger a shift in price direction.
NYMEX:NG1!Short
by Sudhir-Sirohi
Natural Gas at Key Resistance: Rejection or Breakout?Hey traders! Natural Gas (GAZ) is currently testing a strong resistance level. There’s a chance we could see a rejection here, with the price pulling back toward the support level. If this happens, we could also see a gap fill at the support, making it a potential target zone. Here’s the setup I’m watching: Resistance Level: Price is testing resistance; we could see a rejection soon. Support Level: A pullback could take us down to support, with a potential gap fill in that area. Target Zone: Watch for price action around support as a potential entry point. Stay sharp and trade wisely!
NYMEX:NG1!Short
by rebenga93
30% to 60% Upside Coming for Natty (Divergence Strategy)A powerful monthly bullish divergence just confirmed on natty. We see that the CCI had a monthly close which confirmed the bullish divergence setup. In this video I review how to determine targets with this strategy, and how to determine your risk. I anticipate a minimum 30% rally from current prices for natty, possibly heading up 60% from here. This doesn't mean this market won't have a pullback in the meantime. In my opinion, pullbacks are for buying until these price targets are reached. If you have any questions about this strategy, feel free to shoot me a message. Have a great week.
Editors' picks
NYMEX:NG1!Long
by Tradius_Trades
18
NATGAS Trading Opportunity! SELL! My dear friends, My technical analysis for NATGAS is below: The market is trading on 2.921 pivot level. Bias - Bearish Technical Indicators: Both Super Trend & Pivot HL indicate a highly probable Bearish continuation. Target - 2.748 About Used Indicators: A pivot point is a technical analysis indicator, or calculations, used to determine the overall trend of the market over different time frames. ——————————— WISH YOU ALL LUCK
NYMEX:NG1!Short
by AnabelSignals
1
NATGAS Set To Fall! SELL! My dear followers, I analysed this chart on NATGAS and concluded the following: The market is trading on 2.456 pivot level. Bias - Bearish Technical Indicators: Both Super Trend & Pivot HL indicate a highly probable Bearish continuation. Target - 2.388 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. ——————————— WISH YOU ALL LUCK
NYMEX:NG1!Short
by AnabelSignals
1