Today we will focus on the Weekly chart on Natural Gas. Use this as a guide to develop your view of the chart:
Main items we can see:
a)Currently, the price is on a massive support zone
b)In 2012 and 2016 we observed massive reversal movements on the area between 1.90 and 1.60
c)If we are thinking about developing long setups, we have a good filter that has worked on previous situations
d)First, we need a clear breakout of the descending trendline / Second, we need a corrective movement / If that happens, the setup will be ready to trade.
e)This is a Swing view, which means that it requires patience to wait for the expected formation.
f) We will not develop short trades unless there are clear signs that the support zone is broken.
Main items we can see:
a)Currently, the price is on a massive support zone
b)In 2012 and 2016 we observed massive reversal movements on the area between 1.90 and 1.60
c)If we are thinking about developing long setups, we have a good filter that has worked on previous situations
d)First, we need a clear breakout of the descending trendline / Second, we need a corrective movement / If that happens, the setup will be ready to trade.
e)This is a Swing view, which means that it requires patience to wait for the expected formation.
f) We will not develop short trades unless there are clear signs that the support zone is broken.