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Weekly forecast Natural Gas technical chart
Symbol NGAS

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Trade Setup
#NAT.GAS
Total Profit: 539 point
Closed trade(s): 539 point Profit
Open trade(s): 0 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.
TP2 @ 2.00 touched at 2020.08.03 with 15 point Profit.
TP3 @ 2.10 touched at 2020.08.03 with 25 point Profit.
TP4 @ 2.25 touched at 2020.08.04 with 40 point Profit.
TP5 @ 2.50 touched at 2020.08.17 with 65 point Profit.
TP6 @ 2.70 touched at 2020.08.27 with 85 point Profit.
TP7 @ 2.95 touched at 2020.09.24 with 110 point Profit.
5 + 15 + 25 + 40 + 65 + 85 + 110 = 345 point

Closed Profit:
Profit for one trade is 2.82(current price) - 1.85(open price) = 97 point
2 trade(s) closed at market price as the major support is broken, therefore total profit will increase by 97 x 2 = 194 point

Trading suggestion:

There is possibility of temporary retracement to suggested Trend Hunter Buy Zone (1.650 to 1.550). We wait during the retracement, until the price tests the zone, whether approaching, touching or entering the zone.

We would set buy orders based on Daily-Trading-Opportunities and expect to reach short-term targets.

  • Beginning of entry zone (1.650)
    • Support on 02/28/2020
    • Support on 03/09/2020
    • Support on 03/18/2020
    • Support on 03/19/2020
    • Support on 03/24/2020
    • Resistance on 04/02/2020
    • Support on 06/24/2020
    • Support on 07/20/2020
    • Support on 07/21/2020
    • Support on 07/22/2020
  • Ending of entry zone (1.550)

DateNovember 21, 2020 - 14:10
Currentrange bound
Forecastresumption of uptrend
Last weekBearish

Midterm forecast:

  • While the price is above the support 2.250, resumption of uptrend is expected.
  • We make sure when the resistance at 2.950 breaks.
  • If the support at 2.250 is broken, the short-term forecast -resumption of uptrend- will be invalid.

Technical analysis:

  • The RSI uptrend #1 is broken, so the probability of resumption of uptrend is decreased.
  • A peak is formed in daily chart at 3.430 on 10/30/2020, so more losses to support(s) 2.700, 2.500 and minimum to Major Support (2.250) is expected.
  • Price is below WEMA21, if price rises more, this line can act as dynamic resistance against more gains.
  • Relative strength index (RSI) is 39.

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, 12 Jun 2021
Natural Gas (NGAS) Sat, 5 Jun 2021
Natural Gas (NGAS) Sat, 29 May 2021
Natural Gas (NGAS) Sat, 22 May 2021
Natural Gas (NGAS) free Sat, 15 May 2021