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Weekly forecast Natural Gas technical chart
Symbol NGAS
Trade Setup

#NGAS
Total Profit: 1359 point
Closed trade(s): 501 point Profit
Open trade(s): 858 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 7.291(current price) - 5.855(open price) = 143 point
6 trade(s) still open, therefore total profit for open trade(s) is 143 x 6 = 858 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 26, 2022 - 07:01
Currentrange bound
Forecastresumption of uptrend

Midterm forecast:

  • While the price is above the support 5.300, resumption 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 -resumption of uptrend- will be invalid.

Technical analysis:

  • The RSI downtrend #1 is broken, so the probability of resumption of uptrend is increased.
  • A peak is formed in daily chart at 8.125 on 11/23/2022, so more losses to support(s) 6.964, 6.407, 5.835 and minimum to Major Support (5.300) 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 58.

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) Sat, 28 Jan 2023
Natural Gas (NGAS) Sat, 21 Jan 2023
Natural Gas (NGAS) Sat, 14 Jan 2023
Natural Gas (NGAS) Fri, 6 Jan 2023
Natural Gas (NGAS) Sat, 31 Dec 2022