Friday, April 14, 2017

Natural Gas Trading: Weekends Post for the week 17th Apr - 21st Apr 2017

NG has a weekly doji candle which is still within the ascending channel. Holding the resistance above would be very bullish.

From the daily TF, a potential inverse HS is seen. As long as it stay above the lower channel line, NG could gain momentum for a break of the resistance line above.

From the monthly TF, as long as price is above the long term resistance turned support trend line, it could move to touch the 2nd long term resistance trend line above.
Daily support/resistance on 17th Apr: 3.225, 3.196
Weekly support/resistance from 17th Apr - 21st Apr: 3.23, 3.213
Monthly support/resistance for Apr: 3.125, 2.992  (NGK7: 3.143, 3.045 )
Monthly support/resistance for Mar: 2.804, 2.875   
2017 Yearly support/resistance: 3.415, 2.757
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1 comment:

  1. aditiApril 20, 2017 at 5:20 AM

    Useful suggestions on support and resistance level I got to learn here. Charts like these can be further explored to understand market in a better way.
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    ReplyDelete

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