I believe the price is going to fall rapidly this week (Monday 22nd - Friday 26th) and start growing up again on Monday 29th.
First of all technically 0,786 resistance survived the friday attack which only confirms the price downtrend.
Fundamentals are on the bear side too because temperature in Europe and USA is going to be high this week. Lesser demand and high production of natural gas can send the price right through 4.73 support down to the next support at 3.66. If you want to play safe I recommend exiting the short position at 4.73 support and see how it plays out.
Anyways the price fall should create a great opportunity for entering a big long position at 3.66. Its target will greatly depend on weather but I suspect it might rally again to the October 21st maximum of 6.45.
Good luck and don't forget to set stop losses to keep your money safe.
By the way good idea to decide how much to invest is to decide entry point and stop loss point then decide how much money you are willing to risk and count the position margin according to the stop loss (amount of money you're willing to risk).
Oh and this is my first published idea on tradingview so please leave a piece of advice in the comments if you feel like it.
First of all technically 0,786 resistance survived the friday attack which only confirms the price downtrend.
Fundamentals are on the bear side too because temperature in Europe and USA is going to be high this week. Lesser demand and high production of natural gas can send the price right through 4.73 support down to the next support at 3.66. If you want to play safe I recommend exiting the short position at 4.73 support and see how it plays out.
Anyways the price fall should create a great opportunity for entering a big long position at 3.66. Its target will greatly depend on weather but I suspect it might rally again to the October 21st maximum of 6.45.
Good luck and don't forget to set stop losses to keep your money safe.
By the way good idea to decide how much to invest is to decide entry point and stop loss point then decide how much money you are willing to risk and count the position margin according to the stop loss (amount of money you're willing to risk).
Oh and this is my first published idea on tradingview so please leave a piece of advice in the comments if you feel like it.
Comment:
The spike in today morning is a great opportunity to enter a short position with stop loss above the 5.0 resistance.
Comment:
Well it's obvious now that the bears and bulls didn't stand up to my expectations and I was wrong. Next week expect bears again. The gas ended up quite high on Friday considering the previous trend and the weather forecast changed to warm. Get a nice short position, set a stop loss and stay safe!