DLavrov

Natural Gas - Bearish Market and Possible Reversal

OANDA:NATGASUSD   CFDs on Natural Gas
The market keeps the bearish trend . The strong support at 2.60 could not hold the falling market and this level was broken. DMI is bearish and confirms trend market conditions. ADX moves upward, and it tells us above the strength of sellers. MACD lines support the downward movement too.

If we look at RSI , we'll see a possible reversal. The market can be oversold as the line of RSI reached the oversold zone. MACD histogram starts an upward movement. These signals allow us to think about a correction movement in the structure of the bearish trend . Also, the price is not far from the next support at 2.40 and reversing from this zone with further upward movement, it will be a logical market movement.

How far will the price be able to move upward? As we have the bearish trend and there are no trend reversal signals, we should expect that the correction movement will be with targets at higher resistance levels and SMAs with 50 and 100 periods. The price action at the resistance zone formed by SMA100 and 3.00 resistance level will be important for the further market movements as the market will be able to confirm the trend reversal.

How to trade:
- long positions with close profit targets at 2.60 resistance level , SMA50, and SMA100, stop orders below 2.40 support level
- short positions from SMA50 and SMA100 with profit targets at support levels and stop orders above the local swing highs.
THE UNIQUE OFFER!

From October: Signals And Copy Trading For Free! Register >>> https://tradunity.com/lite


Telegram >>> https://t.me/dlavrov_tch
Youtube >>> https://youtube.com/c/tradunity
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features Pricing House Rules Moderators Website & Broker Solutions Widgets Charting Solutions Get Help Feature Request Blog & News FAQ Wiki Twitter
Profile Profile Settings Account and Billing TradingView Coins My Support Tickets Get Help Ideas Published Followers Following Private Messages Chat Sign Out