NG has a breakout of the rising wedge in daily TF, Enough said.
From weekly TF, NG seems to have breakout of the inverse HS. Enough said.
NG is so bullish right?! Nothing is going to stop NG from rising, with Hurricane Matthew threaten supply and forecast of colder winter.
I tried using the Heikin Ashi candlesticks to look at NG from another perspective. The price retreat back inside the rising wedge though the candles are telling us the trend is still bullish.
From weekly TF, Heikin Ashi candlestick, this week candle shows a bit of lower tails. Does this mean weakness coming? I do not understand Heikin Ashi well enough to conclude.
From the patterns above, NG seems to be on the way up with no reversal in sight, except minor correction.
Daily support/resistance on 10th Oct: 3.154, 3.117
Weekly support/resistance from 10th Oct - 14th Oct: 3.129, 3.042
Monthly support/resistance for Oct: 2.896, 2.882, 2.93, 2.984
From weekly TF, NG seems to have breakout of the inverse HS. Enough said.
I tried using the Heikin Ashi candlesticks to look at NG from another perspective. The price retreat back inside the rising wedge though the candles are telling us the trend is still bullish.
From weekly TF, Heikin Ashi candlestick, this week candle shows a bit of lower tails. Does this mean weakness coming? I do not understand Heikin Ashi well enough to conclude.
From the patterns above, NG seems to be on the way up with no reversal in sight, except minor correction.
Daily support/resistance on 10th Oct: 3.154, 3.117
Weekly support/resistance from 10th Oct - 14th Oct: 3.129, 3.042
Monthly support/resistance for Oct: 2.896, 2.882, 2.93, 2.984
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