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Weekly forecast Natural Gas technical chart
Symbol NGAS

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Trade Setup
Total Profit: 16 point
Closed trade(s): 0 point Profit
Open trade(s): 16 point Profit

Trade Setup:
We opened 8 BUY trade(s) @ 2.33 (day close price) based on 'Valley' at 2019.10.03.

Open Profit:
Profit for one trade is 2.35(current price) - 2.33(open price) = 2 point
8 trade(s) still open, therefore total profit for open trade(s) is 2 x 8 = 16 point

Trading suggestion:

  • We have already opened Buy trades, based on Trend Hunter Strategy, trade setup is drawn on the chart and shows entry and targets.

DateOctober 19, 2019 - 17:44
Currentrange bound
Forecastbeginning of uptrend
Last weekBullish

Midterm forecast:

  • While the price is above the support 2.000, beginning of uptrend is expected.
  • We make sure when the resistance at 2.700 breaks.
  • If the support at 2.000 is broken, the short-term forecast -beginning of uptrend- will be invalid.

Technical analysis:

  • There is a divergence in RSI and price between the trough at 2.155 on 2019-06-20 and the trough at 2.025 on 2019-08-05, the probability of downtrend continuation is decreased and the probability of beginning of uptrend is increased.
  • A trough is formed in daily chart at 2.210 on 10/03/2019, so more gains to resistance(s) 2.400, 2.500 and maximum to Major Resistance (2.700) is expected.
  • Price is above WEMA21, if price drops more, this line can act as dynamic support against more losses.
  • Relative strength index (RSI) is 51.

Take Profits:

  1. 2.400
  2. 2.500
  3. 2.700
  4. 2.850
  5. 3.050
  6. 3.350
  7. 3.700
Click on the level to view price action history.

Symbol Released Current Forecast
Natural Gas (NGAS) new Sat, 11 Jul 2020
Natural Gas (NGAS) Sat, 4 Jul 2020
Natural Gas (NGAS) Sat, 27 Jun 2020
Natural Gas (NGAS) Sat, 20 Jun 2020
Natural Gas (NGAS) Sat, 13 Jun 2020