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Weekly forecast Natural Gas technical chart
Symbol NGAS
Trade Setup

#NGAS
Total Profit: 1617 point
Closed trade(s): 501 point Profit
Open trade(s): 1116 point Profit

Trade Setup:
We opened 10 BUY trades @ 5.855 based on 'Hammer' entry method at 2022-10-28.

Closed Profit:
TP1 @ 6.407 touched at 2022-10-31 with 55 point Profit.
TP2 @ 6.964 touched at 2022-11-07 with 110 point Profit.
TP3 @ 7.306 touched at 2022-11-07 with 145 point Profit.
TP4 @ 7.767 touched at 2022-11-23 with 191 point Profit.
55 + 110 + 145 + 191 = 501 point

Open Profit:
Profit for one BUY trade is 7.722(current price) - 5.855(open price) = 186 point
6 trade(s) still open, therefore total profit for open trade(s) is 186 x 6 = 1116 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.

DateNovember 23, 2022 - 18:50
Currentrange bound
Forecastbeginning of uptrend

Midterm forecast:

  • While the price is above the support 5.300, beginning of uptrend is expected.
  • We make sure when the resistance at 9.960 breaks.
  • If the support at 5.300 is broken, the short-term forecast -beginning of uptrend- will be invalid.

Technical analysis:

  • The RSI downtrend #1 is broken, so the probability of beginning of uptrend is increased.
  • A trough is formed in daily chart at 5.985 on 11/09/2022, so more gains to resistance(s) 7.767, 8.236, 8.848 and maximum to Major Resistance (9.960) 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 66.

Take Profits:

  1. 6.407
  2. 6.964
  3. 7.306
  4. 7.767
  5. 8.236
  6. 8.848
  7. 9.382
  8. 9.960
  9. 10.514
Click on the level to view price action history.

Symbol Released Current Forecast
Natural Gas (NGAS) new Sat, 26 Nov 2022
Natural Gas (NGAS) new free Wed, 23 Nov 2022
Natural Gas (NGAS) free Sat, 19 Nov 2022
Natural Gas (NGAS) Sat, 12 Nov 2022
Natural Gas (NGAS) Wed, 9 Nov 2022