Winter cold is coming and NG has a nice rally this week. Next week with new contract, is a different play. Will it continue to rally? Will it close the gap that started this rally?
Looking at the monthly HS candle, the candle has a doji in Nov. A big move is coming in Dec. It is either a continuation of the rally or a reversal. Dec will be exciting month to trade!
In the 5hr TF, we see there are 2 gaps below. Will the gap be filled before any meaningful upmove? Time will tell!
Daily support/resistance on 28th Nov: 3.068, 3.061 (NGF7: 3.182, 3.169)
Weekly support/resistance from 28th Nov - 2nd Dec: 3.049, 3.006 (NGF7: 3.167, 3.126)
Monthly support/resistance for Nov: 2.997, 2.986
Monthly support/resistance for Dec: 3.216, 2.957 (NGF7: 3.246, 3.045)
2016 Yearly support/resistance: 2.406, 2.518
Looking at the monthly HS candle, the candle has a doji in Nov. A big move is coming in Dec. It is either a continuation of the rally or a reversal. Dec will be exciting month to trade!
Weekly support/resistance from 28th Nov - 2nd Dec: 3.049, 3.006 (NGF7: 3.167, 3.126)
Monthly support/resistance for Nov: 2.997, 2.986
Monthly support/resistance for Dec: 3.216, 2.957 (NGF7: 3.246, 3.045)
2016 Yearly support/resistance: 2.406, 2.518
Experts sugegsted Naturalgas trading range for the day as 221-235.Considering market experts views at the time of trading helps in earning rich returns.
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