Naturalgas is resisting downside movement as witnessed on chart.
If you see the downward movement of Naturalgas, it is with relatively high volume but it is not coming down as expected from sellers and bouncing back up again as seen 3 times.
Now naturalgas has reached short term resistance zone of 307-310 from which it took support on 9th June, broke it on 10th June, took resistance on 11th and 12th June.
This might be a Change of Character zone for Naturalgas.
And now that Naturalgas is resisting downward movement, we might see breakout of this zone and probable upside movement.
Lastly it is also forming Ascending triangle which is still premature but just for reader's consideration.
Let's watch it on coming days.
If you see the downward movement of Naturalgas, it is with relatively high volume but it is not coming down as expected from sellers and bouncing back up again as seen 3 times.
Now naturalgas has reached short term resistance zone of 307-310 from which it took support on 9th June, broke it on 10th June, took resistance on 11th and 12th June.
This might be a Change of Character zone for Naturalgas.
And now that Naturalgas is resisting downward movement, we might see breakout of this zone and probable upside movement.
Lastly it is also forming Ascending triangle which is still premature but just for reader's consideration.
Let's watch it on coming days.
I am an experienced trader and trade in equities and commodities. I educate traders with practical skills to help them profitably trade in online markets.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
I am an experienced trader and trade in equities and commodities. I educate traders with practical skills to help them profitably trade in online markets.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.