Natural gas has been under pressure for quite some time. As a whole, the energy sector has been beaten down severely and is historically cheap. I do not believe this will last. We can certainly have another big drop and even take out March lows but I wouldn't count on it. There are some BIG BIG BIG changes heading our way and we will look back on these days...
so a Lil about me is that I'm a natural perfectionist with a pursuit for passion. and that comes in the form of many things. some people may even say I'm a rare entity. anyway don't worry, I think you are too. and without further messing about, id like you know there are such things as the mandella effect and.. the butterfly effect. the markets are riddled with...
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💡 NATGASUSD technically based idea, we can see price is bounce from top trend line, technically indicators...
natgas broke and closed below an expanding wedge pattern.
because the price is currently testing a strong daily structure,
chances are high that the price will drop.
the safest zone to sell from is the expanding area between the support of the wedge and the last higher low.
I expect some bearish movement on the NATGAS
if it closes under the MA50 (wait for retest, check 4H) then there is a SHORT opportunity
1. bounced off strong resistance area (R)
2. respected downward trend line (purple)
3. RSI (still) bearish, as well as MACD
4. confirming 0.5 Fib retracement level
5. longer term trend is down