XNGUSD ready to reverse recent downtrend LONG Long

US Natural Gas (Spot) (XNGUSD)FXOpen

Description

⋅ Jan 21, 2023 11:26 PM

XNGUSD has been on a long downtrend. On the 1 H Chart,

a falling wedge is seen awaiting a breakout. Moving Average slopes are

decreasing their negativity towards zero. ATR / Volatility is decreasing

as is the downtrend momentum on the average directional index indicator.

I see this as a long swing trade setting up for forex or alternatively

a natural gas ETF like UNL / UNG or a natural gas stock like LNG. This

trade would be propelled by the dollar losing strength, inflation being

sustained, WW III in Europe continuing and the weather turning cooler the

remainder of the winter.

Comments

JoeChampion

⋅ Jan 22, 2023 9:54 AM

Excellent job Pal!

AwesomeAvani

⋅ Jan 22, 2023 6:52 PM

@JoeChampion, Thanks for your comment. I see you are a high expert with a huge following. I am a novice retailer trader trying to learn technical analysis so I can make accurate
trades and gain experience and profit.

rohanrathor12356

⋅ Jan 22, 2023 9:43 AM

good idea mate