While the price is below the resistance 66.50, beginning of downtrend is expected.
We make sure when the support at 55.20 breaks.
If the resistance at 66.50 is broken, the short-term forecast -beginning of downtrend- will be invalid.
While the RSI uptrend #1 is not broken, bullish wave in price would continue.
A peak is...
RSI(10) @62 reaching for higher highs - OBV confirming trend
ADX (directional index) on a continuing positive trend
We see a very bullish move, as a hammer candlestick is formed at the 61.8% retracement level.
This is happening as the market as a whole is on a rally.
I would wait to see if we can break $68 (heavy resistance) on Monday.
Is the NGas lying on the ground? So the price established a new period minimum. It is going to test the support area around $ 2.42. This area was not tested from June 2016.
Technically, the main trend is strongly bearish. From the maximum recorded in the last November, the value of natural gas has collapsed by over 50%. It closing the week slightly above the last...
4H CHART EXPLANATION:
Main Items we Observe on the Chart:
-Price is inside an ascending channel
-Currently, the price is against a Major Support zone
and facing the lower trendline of the ascending channel
-We draw a descending trendline, we expect that to be broken before taking any long setup.
Based on this if price closes above 2.597 we expect a...