NG has a bearish and volatile week. Now price is a the lower line of the mini descending channel. Would it bounce or break below?
Last week, I mentioned that there is a potential pattern to repeat in the weekly TF. Indeed it repeated. Could it continue down to TP1? Price is supported by the ichimoku cloud. Let's see if it will break before or bounce from the cloud.
Price is very near the mid of BB in the monthly TF where a bounce may happen.
Daily support/resistance on 10th July: 2.868, 2.897
Weekly support/resistance from 10th July - 14th July: 2.941, 2.883
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
Last week, I mentioned that there is a potential pattern to repeat in the weekly TF. Indeed it repeated. Could it continue down to TP1? Price is supported by the ichimoku cloud. Let's see if it will break before or bounce from the cloud.
Price is very near the mid of BB in the monthly TF where a bounce may happen.
Daily support/resistance on 10th July: 2.868, 2.897
Weekly support/resistance from 10th July - 14th July: 2.941, 2.883
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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