InvestingScope
Short

Natural Gas: Short opportunity near the monthly Resistance.

OANDA:NATGASUSD   CFDs on Natural Gas
Natural Gas is extending a strong 1D bullish leg ( MACD = 0.113, Highs/Lows = 0.2976) which has entered into the overbought territory ( RSI = 75.562). Being near the 1M (monthly) Resistance, the right conditions for a medium term short trade emerge. Even the 1D RSI is close to a Double Top and may follow the previous sequence of March - May 2019. Notice how the uptrend's lows are symmetrical with the downtrend's lows. Under these conditions our Target Zone is set at 2.500 - 2.450.





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