NATGASUSD - Waiting for price action - Probability for LONG: 65%
Price currently testing trendline which is acting as first resistance, second resistance level at FIB 0.382.
Will be watching Monday's session to see if we have a closing 4H candle above the trendline. If EMA remains bullish, RSI maintains its breakout over the oversold level, and MACD still pushing towards the 0 level, we can expect the price to retest the trendline and complete a push towards testing resistance at 1.668-1.680.
A rejection of the trendline and with the MACD signal in the bearish zone, we could see a reversal towards the support area.
**Note: 1D chart showing price range-bound in downtrend channel.
High market volatility, reduce risk level.
Please feel free to share your comments.
Happy trading, and stay safe!
Will be watching Monday's session to see if we have a closing 4H candle above the trendline. If EMA remains bullish, RSI maintains its breakout over the oversold level, and MACD still pushing towards the 0 level, we can expect the price to retest the trendline and complete a push towards testing resistance at 1.668-1.680.
A rejection of the trendline and with the MACD signal in the bearish zone, we could see a reversal towards the support area.
**Note: 1D chart showing price range-bound in downtrend channel.
High market volatility, reduce risk level.
Please feel free to share your comments.
Happy trading, and stay safe!
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