🎯 Trade setup:
Direction: Short from breakdown / resistance retest
🔻 Entry: 2.745–2.760
🛑 Stop Loss: 2.850
🎯 Take Profit 1: 2.700
🎯 Take Profit 2: 2.650
📰 News:
Natural gas remains under pressure as U.S. futures extend losses. The market is being weighed down by high production, robust storage levels, softer LNG feedgas demand and forecasts for milder August temperatures.
EIA data also shows U.S. gas inventories remain above the five-year average, limiting upside pressure despite seasonal summer power demand. This keeps the fundamental backdrop bearish unless weather forecasts turn hotter or LNG demand improves.
📊 Analysis:
On the 4H chart, NATGAS is trading near 2.75 after breaking down from the recent consolidation structure. Price remains below EMA 9, EMA 20, SMA 50 and far below SMA 200, confirming that sellers are still in control.
RSI is near 33 and Stoch RSI is deeply oversold, so a short-term bounce is possible. However, MACD remains bearish and the price is still holding below the 2.800–2.830 resistance zone.
A rejection from 2.745–2.760, or a failed reclaim of 2.800, would support a continuation toward 2.700 and 2.650.
⚠️ Not financial advice.
Direction: Short from breakdown / resistance retest
🔻 Entry: 2.745–2.760
🛑 Stop Loss: 2.850
🎯 Take Profit 1: 2.700
🎯 Take Profit 2: 2.650
📰 News:
Natural gas remains under pressure as U.S. futures extend losses. The market is being weighed down by high production, robust storage levels, softer LNG feedgas demand and forecasts for milder August temperatures.
EIA data also shows U.S. gas inventories remain above the five-year average, limiting upside pressure despite seasonal summer power demand. This keeps the fundamental backdrop bearish unless weather forecasts turn hotter or LNG demand improves.
📊 Analysis:
On the 4H chart, NATGAS is trading near 2.75 after breaking down from the recent consolidation structure. Price remains below EMA 9, EMA 20, SMA 50 and far below SMA 200, confirming that sellers are still in control.
RSI is near 33 and Stoch RSI is deeply oversold, so a short-term bounce is possible. However, MACD remains bearish and the price is still holding below the 2.800–2.830 resistance zone.
A rejection from 2.745–2.760, or a failed reclaim of 2.800, would support a continuation toward 2.700 and 2.650.
⚠️ Not financial advice.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Join me, I'll guide you to PROFITABLE TRADING💵!
Telegram Channel:
t.me/elibrianalytics
Telegram Channel:
t.me/elibrianalytics
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.