NATURAL GAS🔥 breakout

7 Sep 2022

NG1! broke down out of the raising wedge (yellow) and I expect further downside. It will prolly not be in straight line, pullbacks along the way expected. Actually now we are sitting at the support zone 7.78 - 7.55, so bounce up or sideways before next leg down is possible. Target being the support zone 6.46-5.95 and potentially the lime uptrendline.

Also there is a upward channel (blue) on the log scale:

Will we test the channel lower edge?

Let me know in the comments how much has your gas bill risen if you already pay new price.

Check my other stuff in related ideas.

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⚠️Disclaimer: I'm not financial advisor. This is not a financial advice. Do your own due dilingence.

17 Okt 2022

Dagangan ditutup: sasaran tercapai

Support zone 6.46-5.95 reached, now going for the lime uptrendline support. I think it will overshoot even lower as there is H&S target at 5.4


Also the log channel lower edge is quite close:

21 Okt 2022

Nota

Overshooting through the trendlines as expected, H&S target reached.

16 Nov 2022

Nota

Please find new NG idea down below:

3 Jan 2023

Nota

NG spilling big time, currently at 3.9 which is 50% since this short call.

Just noticed that above the link to the new NG idea is wrong ... it links to this idea actually, here is the correct one: