NG has a bullish inventory report and Thursday has a long green candles equivalent of 4-5 days red candles. Prices bonuced on the supportive trend line in daily TF below. But on Friday, the rally paused. I am not sure if price will drop back to the supportive trend line or not. It is currently above the ichimoku cloud which means bull strength is there.
In the weekly TF, it is still in consolidation. As it is also above ichimoku cloud, bulls strength is there. I am interested to see if it will drop to the mid of BB before any break up.
As price is currently between the monthly support/resistance, it is not clear about price will move next week. We will have the some clue on Sun/Mon open.
Daily support/resistance on 12th Sept: 2.803, 2.814
Weekly support/resistance from 12th Sept - 16th Sept: 2.783, 2.755
Monthly support/resistance for Sept: 2.831, 2.733, 2.842, 2.765
In the weekly TF, it is still in consolidation. As it is also above ichimoku cloud, bulls strength is there. I am interested to see if it will drop to the mid of BB before any break up.
As price is currently between the monthly support/resistance, it is not clear about price will move next week. We will have the some clue on Sun/Mon open.
Daily support/resistance on 12th Sept: 2.803, 2.814
Weekly support/resistance from 12th Sept - 16th Sept: 2.783, 2.755
Monthly support/resistance for Sept: 2.831, 2.733, 2.842, 2.765
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