vikinsa

Natural Gas (NATGAS) More Down Side Expected?

Short
CURRENCYCOM:NATURALGAS   Natural Gas
Traders, Natural Gas fell sharp because it simply violated the 38.2 Fib level @2.698. It is now resting at 50% fib which may or may not hold. If it holds then we can upward movements to those horizontal lines above.
Else it is expected to fall to the FCP zone below where 2 FCP ( Fibonacci Confluence ) patterns complete. There is also 200MA in that zone.

One more thing to note is the possible development of Head and Shoulders pattern. Remember that HNS pattern is never perfect so do not rely on it heavily.



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Take care and trade well
-Vik

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📌 DISCLAIMER
The content on this analysis is subject to change at any time without notice, and is provided for the sole purpose of education only.
Not a financial advice or signal. Please make your own independent investment decisions.
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Comment: watch out for this gap which I missed in the analysis:

Comments

Great analysis; we will see by next week probably how this unfolds.
+1 Reply
vikinsa Zaitermo
@Zaitermo, Thanks :) Good luck
Reply
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