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Weekly forecast Natural Gas technical chart
Symbol NGAS
Trade Setup

#NGAS
Total Profit: -14 point
Closed trade(s): 51 point Profit
Open trade(s): -65 point Profit

Trade Setup:
We opened 14 BUY trades @ 2.465 based on 'Valley' entry method at 2023-02-23.

Closed Profit:
TP1 @ 2.983 touched at 2023-03-03 with 51 point Profit.

Open Profit:
Profit for one BUY trade is 2.423(current price) - 2.465(open price) = -5 point
13 trade(s) still open, therefore total profit for open trade(s) is -5 x 13 = -65 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.

DateMarch 18, 2023 - 06:21
Currentrange bound
Forecastbeginning of uptrend

Midterm forecast:

  • While the price is above the support 2.000, beginning of uptrend is expected.
  • We make sure when the resistance at 3.506 breaks.
  • If the support at 2.000 is broken, the short-term forecast -beginning of uptrend- will be invalid.

Technical analysis:

  • There is a divergence in RSI and price between the trough at 2.37 on 2023-02-03 and the trough at 2.119 on 2023-02-22, the probability of downtrend continuation is decreased and the probability of beginning of uptrend is increased.
  • The RSI downtrend #1 is broken, so the probability of beginning of uptrend is increased.
  • A peak is formed in daily chart at 3.070 on 03/03/2023, so more losses to support(s) 2.330 and minimum to Major Support (2.000) 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 42.

Take Profits:

  1. 2.983
  2. 3.506
  3. 4.036
  4. 4.470
  5. 5.350
  6. 5.982
  7. 6.808
  8. 7.362
  9. 8.140
  10. 8.848
  11. 9.382
  12. 9.960
  13. 10.514
Click on the level to view price action history.

Symbol Released Current Forecast
Natural Gas (NGAS) new free Sat, 18 May 2024
Natural Gas (NGAS) free Thu, 16 May 2024
Natural Gas (NGAS) free Sat, 11 May 2024
Natural Gas (NGAS) free Sun, 5 May 2024
Natural Gas (NGAS) Sat, 27 Apr 2024