NATURAL GAS Turned bearish but short below the 1D MA200.

2023年12月4日

Natural Gas (NG) opened today below the bottom (Higher Lows trend-line) of the long-term Bullish Megaphone pattern and that is of course the strongest indication that the market has turned bearish long-term. The first sign was breaking and closing below the 1D MA100 (green trend-line), which hasn't been done since June 14.

The safest course of action would be to sell after the 1D MA200 (orange trend-line) breaks and target first the bottom of the Support Zone at 2.425 and after a bounce, 2.135 (Support 2) in extension.

Until the 1D MA200 breaks though, we can see a dead-cat-bounce if the price breaks the Lower Highs trend-line and closes above the 1D MA100 again. If that happens before, as well as the 1D MACD forms a Bullish Cross, we will buy first the target Resistance at 3.275.

-------------------------------------------------------------------------------

** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. **

-------------------------------------------------------------------------------

💸💸💸💸💸💸
👇 👇 👇 👇 👇 👇