NG has a bearish week. As mentioned last week that a possible correction is coming. Based on weekly TF, price goes down after hitting the upper channel. Will it continue to go down to the lower channel?
From daily TF, a small hammer is formed at the mid of BB. Will it bounce off or drop below and test the ichimoku cloud below?
From the monthly TF, price has already break out of the first downtrend resistance. There is a possibility price may retest it before going up.
After all, weather forecast is going to dictate the direction going forward.
Daily support/resistance on 19th Dec: 3.384, 3.389
Weekly support/resistance from 19th Dec- 23rd Dec: 3.472, 3.412
Monthly support/resistance for Dec: 3.216, 2.957 (NGF7: 3.246, 3.045)
2016 Yearly support/resistance: 2.406, 2.518
From daily TF, a small hammer is formed at the mid of BB. Will it bounce off or drop below and test the ichimoku cloud below?
From the monthly TF, price has already break out of the first downtrend resistance. There is a possibility price may retest it before going up.
After all, weather forecast is going to dictate the direction going forward.
Daily support/resistance on 19th Dec: 3.384, 3.389
Weekly support/resistance from 19th Dec- 23rd Dec: 3.472, 3.412
Monthly support/resistance for Dec: 3.216, 2.957 (NGF7: 3.246, 3.045)
2016 Yearly support/resistance: 2.406, 2.518
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