This week gap up has been closed till now. The question is will it be closed soon? Below are the possible move as price is at the upper descending channel
In the weekly TF, similar candlestick pattern could be found and the question is would the pattern repeat. Though price is still supported by the ichimoku cloud, resistance at 200 EMA/SMA and the long term trendline is seen.
In the monthly TF, the mid of BB is slopping up while a small hammer is formed above it.It remains to be seen if NG will go up thereafter or the mid of BB is still to be tested.
Daily support/resistance on 3rd July: 3.032, 3.013
Weekly support/resistance from 3rd July - 7th July: 3.048, 3.043 (NGQ7: 3.043, 3.048)
Monthly support/resistance for Jul: 3.025, 2.992 (NGQ7: 3.033, 3.018)
Monthly support/resistance for Jun: 3.135, 3.246 (NGN7: 3.148, 3.284)
2017 Yearly support/resistance: 3.415, 2.757
In the weekly TF, similar candlestick pattern could be found and the question is would the pattern repeat. Though price is still supported by the ichimoku cloud, resistance at 200 EMA/SMA and the long term trendline is seen.
In the monthly TF, the mid of BB is slopping up while a small hammer is formed above it.It remains to be seen if NG will go up thereafter or the mid of BB is still to be tested.
Weekly support/resistance from 3rd July - 7th July: 3.048, 3.043 (NGQ7: 3.043, 3.048)
Monthly support/resistance for Jul: 3.025, 2.992 (NGQ7: 3.033, 3.018)
Monthly support/resistance for Jun: 3.135, 3.246 (NGN7: 3.148, 3.284)
2017 Yearly support/resistance: 3.415, 2.757
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