NG has a bearish week. From the daily TF, we could see three areas of support (A, B, C). NG is currently at support A, If support A fails, it could test support B. If winter is gona be warmer than normal, NG shall test support C. We shall see if support A holds as there seems to be a lot of buying there.
In monthly TF, NG is testing the mid of BB. If it holds, NG could bounce. Otherwise, test of lower support below is possible.
In the weekly TF, price is still above the ichimoku cloud. I am watching if NG will test the ichimoku cloud soon.
Coming winter forecast is important and Trump's policy towards energy industry could also change its fate. Be vigilant!
Daily support/resistance on 14th Nov: 2.624, 2.620
Weekly support/resistance from 14th Nov - 18th Nov: 2.711, 2.654
Monthly support/resistance for Nov: 2.997, 2.986
2016 Yearly support/resistance: 2.406, 2.518
In monthly TF, NG is testing the mid of BB. If it holds, NG could bounce. Otherwise, test of lower support below is possible.
In the weekly TF, price is still above the ichimoku cloud. I am watching if NG will test the ichimoku cloud soon.
Coming winter forecast is important and Trump's policy towards energy industry could also change its fate. Be vigilant!
Daily support/resistance on 14th Nov: 2.624, 2.620
Weekly support/resistance from 14th Nov - 18th Nov: 2.711, 2.654
Monthly support/resistance for Nov: 2.997, 2.986
2016 Yearly support/resistance: 2.406, 2.518
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