Sunday, April 9, 2017

Natural Gas Trading: Weekends Post for the week 10th Apr - 14th Apr 2017

NG has a weekly spinning top at the mid of BB. This means indecision. Confirmation of the direction is needed in the next 1 or 2 weeks.


In the daily TF, price is resisted by the purple resistance line shown below. Overcome the resistance line could see NG heading to close the gap above while failure to push above could see Ng heading down again to possibly to the ichimoku cloud support.

Daily support/resistance on 10th Apr: 3.264, 3.293
Weekly support/resistance from 10th Apr - 14th Apr: 3.244, 3.234
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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