NATURAL GAS has made a very strong bull run in the past few months, the current price is forming an AB=CD pattern (Bearish) on this Weekly Chart.
Of Course, we have to say that the price might go higher.
However, we need to take note that it is a strong opportunity to sell (PRZ)
Watch out for rejection at this level to finding good risk-reward...
With cold weather coming soon to the Northern Hemisphere, Natural Gas could be getting interesting as the failing shale oil industry will eventually cause supply to be reduced.
Natural Gas Futures closed convincingly above the weekly Ichimoku clouds for the first time since early last year. Dips will be supported and a test above 4.00 is possible in the weeks ahead.
the daily chart of this market shows that it will experience an uptrend in the next few days with a very high probability at the same time it is better to be vigilant of the change of direction towards the opposite
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Hot weather will likely boost Natural Gas prices in the near term so I opened a long position after price broke above $1.80 again.
$QG - E-mini Natural Gas Futures
+1 @ $1.815
Sell Limit -1 @ $1.94
Additionally, the MACD is showing bullish momentum on the 4hr chart and prices are being supported by the 50 and 200 EMA. If price clears $1.83 I see the momentum...