NG has rolled over to new contract and the price is flirting with the weekly 20 SMA.
In the 4 hr TF,tThe contract gap has not been closed and it could be an island reversal. 200 SMA/EMA is currently acting as a support while the ichimoku cloud is acting as a resistance. Soon we will know the direction.
In the monthly TF, the doji can be seen. Oct or Nov shall be the decisive month as the winter forecast is more firm.
Monthly support/resistance for Aug: 2.948, 2.856 (NGU7: 2.854, 2.941)
2017 Yearly support/resistance: 3.415, 2.757
In the 4 hr TF,tThe contract gap has not been closed and it could be an island reversal. 200 SMA/EMA is currently acting as a support while the ichimoku cloud is acting as a resistance. Soon we will know the direction.
In the monthly TF, the doji can be seen. Oct or Nov shall be the decisive month as the winter forecast is more firm.
Daily support/resistance on 2nd Oct: 3.018, 3.018
Weekly support/resistance from 2nd Oct - 6th Oct: 2.994, 3.010
Monthly support/resistance for Oct: 3.026, 3.021 (NGX7: 3.041, 3.086 )
Monthly support/resistance for Sept: 2.986, 2.91 (NGV7: 2.994, 2.922 )Monthly support/resistance for Aug: 2.948, 2.856 (NGU7: 2.854, 2.941)
2017 Yearly support/resistance: 3.415, 2.757
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