NG has a spinning top candle on Friday. NG is undecided to go up or go down. If it goes up, it will meet the daily 200 EMA/SMA as well as the ichimoku cloud resistance above. If it goes down, it will meet the bottom channel support.
From the weekly chart, we can see that 3 weeks of candles has longer upper tail. This could mean the big boys are distributing. NG is still at the weekly ichmoku cloud support, so a bounce may still be possible if it holds.
From the 4hr chart, 200 EMA/SMA is the resistance to overcome before going higher, while price is support by ichimoku cloud at the moment.
Daily support/resistance on 17th July: 2.973, 2.964
Weekly support/resistance from 17th July - 21st July: 2.972, 2.962
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
From the weekly chart, we can see that 3 weeks of candles has longer upper tail. This could mean the big boys are distributing. NG is still at the weekly ichmoku cloud support, so a bounce may still be possible if it holds.
From the 4hr chart, 200 EMA/SMA is the resistance to overcome before going higher, while price is support by ichimoku cloud at the moment.
Daily support/resistance on 17th July: 2.973, 2.964
Weekly support/resistance from 17th July - 21st July: 2.972, 2.962
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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