Technical Analysis:
- NG is doing a bounce in wave ((1)) in black. We expect that this bounce will continue
- H1 right side is turning down
- H4 right side is turning up
Technical Information:
- If you didn't buy yet, you must wait for the wave((2)) in black to be completed in order to buy
- And if you want to buy now, you need to put stop-loss around 2.43...
Natural Gas is basically neutral on the 1D timeframe (RSI = 47.497, MACD = -0.005, ADX = 30.454) supported by the S1 Zone (holding since June 21st) and restrained below the LH trendline. The 1D RSI is inside a Rectangle, which since May 4th has given excellent sell entries on its top and buy entries on its bottom. You may trade according to that but we will take a...
Natural Gas got supported on the 4H MA50 yesterday but the rebound seems to be running out of steam. The R1 at 2.697 is so far a Double Top and as the 4H RSI is forming the same bearish pattern as in late May while the 1D technicals are losing strength (RSI = 59.608, MACD = 0.079, ADX = 32.120), we are shorting NG targeting the HL trendline (TP = 2.300).
## If...
