NG1. Natural Gas may Double-top at important resistance

NYMEX:NG1!   Natural Gas Futures
NG1 futures may top as soon as this week and have an important correction. There is an important resistance level at 3.50 area which is a match of one of two gaps left to close and a 141% Fibo extension of a current bullish run. Also, if a weekly candle closes below 3.36 , it would create a double-top patern which is highly bearish .

If the 141% level is not broken on a weekly level, it may mean a Cypher pattern drawn on this board is completely valid and next target to which we would get is 2.195 area.
Comment: In theory, natural Gas and oil should reverse together and currently both are very close to the targets...
Trade active: Shorted 3.505, SL: 3.70. TP1: 2.80, TP2: 2.200
Comment: Moving short to breakeven, for now +3%
Trade closed manually: Posting new chart
Well done - OIL chart has an slightly analog structure too ...
Maybe are the GAP from then and the GAP last days are something like breakAway indications !?
How ever GOOD JOB :)
+1 Reply
@4XSetUps, thank you! =) In the end, today it set a Higher High and a Higher Low, despite the candle was quite red at some moment. It may go higher next week but shouldn´t go much higher than 3.6-3.7

Moving nicely. Bounced off of the upper channel and looking great.
+1 Reply
@htgroup1, eventually! NG has a huge volatility, which, multiplied to a margin os something like 1:125, makes it really expensive toy =) But possible gains are also amazing!
Shorted as well via DGAZ. In at 4.25 SL 4.00 TP1 5.34, TP2 5.92, TP3 6.48. Good luck!
+1 Reply
@htgroup1, thank you, Sir! Let the Market Force be with us!
First resistance at 3.508.... waiting for retest.
+1 Reply
Getting ready for the short of the year. Entering at retest of 3.50
+1 Reply
@htgroup1, it looks quite shortable, yes! =)
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out