Natgas: Week 23rd to 27th of October
Supports and resistances for the coming week.
The double reds can be regarded as zones of severe support and resistance.
The blue; interesting levels in between for price to dance on. Notice, we closed a bit below a strong resistance zone. It would be better for bulls if we closed right above one higher zone, so now it has to work with more space / zones to get higher. Long is my main view for Natgas though.
The double reds can be regarded as zones of severe support and resistance.
The blue; interesting levels in between for price to dance on. Notice, we closed a bit below a strong resistance zone. It would be better for bulls if we closed right above one higher zone, so now it has to work with more space / zones to get higher. Long is my main view for Natgas though.
Comment:
Looking at the chart, you can try a short here as we are on upper part of a resistance zone (double red zone) - 3.06.
Comment:
And, taking profit here as we reached now lower part of a zone. And wait to see PA.
Comment:
First weekly resistance zone respected so far.
Comment:
Clear rejection from first weekly resistance. This is how it goes when it gaps up. Instead of gapping up and have to go back, wouldnt it be easier to just dont gap up and go up in a normal fashion?
Comment:
Weekly gann level support here.
Comment:
2.792; SL below 2.760 can be a good R/R trade