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Weekly forecast Natural Gas technical chart
Symbol NGAS

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Trade Setup
#NAT.GAS
Total Profit: 205 point
Closed trade(s): 40 point Profit
Open trade(s): 165 point Profit

Trade Setup:
We opened 7 BUY trade(s) @ 2.40 (day close price) based on 'Valley' at 2019.10.03.

Closed Profit:
TP1 @ 2.50 touched at 2019.10.16 with 10 point Profit.
TP2 @ 2.70 touched at 2019.10.29 with 30 point Profit.
10 + 30 = 40 point

Open Profit:
Profit for one trade is 2.73(current price) - 2.40(open price) = 33 point
5 trade(s) still open, therefore total profit for open trade(s) is 33 x 5 = 165 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.
  • If the Midterm level 2.500 is broken, we will close open trades.
DateNovember 2, 2019 - 16:53
Currentrange bound
Forecastbeginning of uptrend

Midterm forecast:

  • While the price is above the support 2.500, beginning of uptrend is expected.
  • We make sure when the resistance at 2.850 breaks.
  • If the support at 2.500 is broken, the short-term forecast -beginning of uptrend- will be invalid.
  • We will close our open trades, if the Midterm level 2.500 is broken.

Technical analysis:

  • There is a divergence in RSI and price between the trough at 2.13 on 2019-06-20 and the trough at 2.035 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 2.285 on 10/03/2019, so more gains maximum to Major Resistance (2.850) 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 68.

Take Profits:

  1. 2.500
  2. 2.700
  3. 2.850
  4. 3.050
  5. 3.350
  6. 3.700
Click on the level to view price action history.
Symbol Released Current Forecast
Natural Gas (NGAS) Sat, 13 Apr 2024
Natural Gas (NGAS) Sat, 6 Apr 2024
Natural Gas (NGAS) Wed, 3 Apr 2024
Natural Gas (NGAS) Sat, 30 Mar 2024
Natural Gas (NGAS) Sat, 23 Mar 2024
History
Daily-Trading-Opportunities on NGAS.