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Weekly forecast Natural Gas technical chart
Symbol NGAS

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Trade Setup

#NAT.GAS
Total Profit: 480 point
Closed trade(s): 346 point Profit
Open trade(s): 134 point Profit

Trade Setup:
We opened 8 BUY trade(s) @ 2.57 based on 'Valley' entry method at 2021.03.19.

Closed Profit:
TP1 @ 2.60 touched at 2021.03.22 with 3 point Profit.
TP2 @ 2.75 touched at 2021.04.16 with 18 point Profit.
TP3 @ 2.90 touched at 2021.04.27 with 33 point Profit.
TP4 @ 3.00 touched at 2021.05.04 with 43 point Profit.
TP5 @ 3.15 touched at 2021.05.17 with 58 point Profit.
TP6 @ 3.40 touched at 2021.06.23 with 83 point Profit.
TP7 @ 3.65 touched at 2021.06.29 with 108 point Profit.
3 + 18 + 33 + 43 + 58 + 83 + 108 = 346 point

Open Profit:
Profit for one trade is 3.91(current price) - 2.57(open price) = 134 point
1 trade(s) still open, therefore total profit for open trade(s) is 134 x 1 = 134 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 3.150 is broken, we will close open trades.

DateJuly 31, 2021 - 16:05
Currentuptrend
Forecastcontinuation of uptrend
Last weekBullish

Midterm forecast:

  • 3.150 is a major support, while this level is not broken, the Midterm wave will be uptrend.
  • We will close our open trades, if the Midterm level 3.150 is broken.

Technical analysis:

  • There is a divergence in RSI and price between the peak at 3.8 on 2021-06-29 and the peak at 4.155 on 2021-07-26, the probability of uptrend continuation is decreased and the probability of beginning the correction wave is increased.
  • While the RSI support #1 at 53 is not broken, the probability of price decrease would be too low.
  • A peak is formed in daily chart at 4.150 on 07/26/2021, so more losses to support(s) 3.800, 3.650, 3.400 and minimum to Major Support (3.150) 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 59.

Take Profits:

  1. 2.600
  2. 2.750
  3. 2.900
  4. 3.000
  5. 3.150
  6. 3.400
  7. 3.650
Click on the level to view price action history.

Symbol Released Current Forecast
Natural Gas (NGAS) Sun, 12 Sep 2021
Natural Gas (NGAS) Sun, 5 Sep 2021
Natural Gas (NGAS) free Sat, 28 Aug 2021
Natural Gas (NGAS) Sat, 21 Aug 2021
Natural Gas (NGAS) Sat, 14 Aug 2021