Natural Gas. The beginning of bearish trend
NATGASUSDOn Friday, August 24th, Natural Gas reversed its recent bullish trend and quickly approached to test the 2.90-2.89 level. This level represents quite serious support zone, which served as a resistance in July and it was broken on August 18th. If this level will be broken, the next serious support zone will be 2.850-2.833. By breaking this level, which represents Fibonacci retracement 50%, NG should test the next level at 2.774-2.750, which represent Fibonacci 78.6%.
Considering the time frame before coming heating season, we shall see consolidation in that area, with the following trend reversal.
Please note, that before you make a decision to go long or short at those levels, check RSI and MACD indicators to confirm your decision.
منشورات ذات صلة
إخلاء المسؤولية
لا يُقصد بالمعلومات والمنشورات أن تكون، أو تشكل، أي نصيحة مالية أو استثمارية أو تجارية أو أنواع أخرى من النصائح أو التوصيات المقدمة أو المعتمدة من TradingView. اقرأ المزيد في شروط الاستخدام.