Another doji week. This means the next movement would be big. The weekly ichimoku is still providing support to the price.
In the daily TF, a descending channel could be seen forming. Holding above the 3.1 resistance could mean a trend change. Right now, traders are betting on the summer heat to consume much of NG inventory.
From the 4hr TF, the measured target of the HS is reached. The ichimoku cloud is still resisting it up move though Thursday candles manage to rip inside the cloud. We shall see if it will continue to resist upwards move next week.
Daily support/resistance on 19th May: 3.037, 3.052
Weekly support/resistance from 19th Jun - 23rd Jun: 3.002, 3.021
Monthly support/resistance for Jun: 3.135, 3.246 (NGN7: 3.148, 3.284)
Monthly support/resistance for May: 3.241, 3.185 (NGM7: 3.271, 3.274 )
2017 Yearly support/resistance: 3.415, 2.757
In the daily TF, a descending channel could be seen forming. Holding above the 3.1 resistance could mean a trend change. Right now, traders are betting on the summer heat to consume much of NG inventory.
From the 4hr TF, the measured target of the HS is reached. The ichimoku cloud is still resisting it up move though Thursday candles manage to rip inside the cloud. We shall see if it will continue to resist upwards move next week.
Weekly support/resistance from 19th Jun - 23rd Jun: 3.002, 3.021
Monthly support/resistance for Jun: 3.135, 3.246 (NGN7: 3.148, 3.284)
Monthly support/resistance for May: 3.241, 3.185 (NGM7: 3.271, 3.274 )
2017 Yearly support/resistance: 3.415, 2.757
No comments:
Post a Comment