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Weekly forecast Natural Gas technical chart
Symbol NGAS

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Trade Setup
#NAT.GAS
Total Profit: 13 point
Closed trade(s): 5 point Profit
Open trade(s): 8 point Profit

Trade Setup:
We opened 9 BUY trade(s) @ 1.85 (day close price) based on 'Valley' at 2020.07.06.

Closed Profit:
TP1 @ 1.90 touched at 2020.07.07 with 5 point Profit.

Open Profit:
Profit for one trade is 1.86(current price) - 1.85(open price) = 1 point
8 trade(s) still open, therefore total profit for open trade(s) is 1 x 8 = 8 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.

DateAugust 1, 2020 - 12:48
Currentrange bound
Forecastbeginning of uptrend
Last weekBearish

Midterm forecast:

  • While the price is above the support 1.400, beginning of uptrend is expected.
  • We make sure when the resistance at 2.250 breaks.
  • If the support at 1.400 is broken, the short-term forecast -beginning of uptrend- will be invalid.

Technical analysis:

  • The RSI bounced from the support #1 at 30 and it prevented price from more losses.
  • While the RSI downtrend #2 is not broken, bearish wave in price would continue.
  • A trough is formed in daily chart at 1.640 on 07/20/2020, so more gains to resistance(s) 1.900, 2.000, 2.100 and maximum to Major Resistance (2.250) 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 54.

Take Profits:

  1. 1.900
  2. 2.000
  3. 2.100
  4. 2.250
  5. 2.500
  6. 2.700
  7. 2.950
  8. 3.650
Click on the level to view price action history.

Symbol Released Current Forecast
Natural Gas (NGAS) Sat, 8 Aug 2020
Natural Gas (NGAS) free Sat, 1 Aug 2020
Natural Gas (NGAS) Sat, 25 Jul 2020
Natural Gas (NGAS) Sat, 18 Jul 2020
Natural Gas (NGAS) Sat, 11 Jul 2020