NGL will "Not-Gonna-Lie" - 50% Move Inbound
NGL has been trending downward since early morning, but recent activity hints at a significant shift. For approximately 80 days, NGL has been in an accumulation phase, but a closer look suggests something more promising.
On the daily timeframe (TF), a reversed Head & Shoulders (H&S) pattern appears to be unfolding, with a breakout (BO) forming a Higher High (HH). Resistance has been found at $0.1129, potentially marking a Higher Low (HL) or signaling another move in the making.
The price is currently bouncing off the neckline of the H&S. If we hold above $0.09 with two more healthy candles, NGL could be on track to reach $0.134—a 50% move from the current level. Additionally, NGL is showing strength, bouncing from the 50 RSI.
Key Levels to Watch
Blue Line:
Indicates a quick upward move, with a short-term stop at $0.1129 before pushing for a new HH. This would signal a potential early reversal and pave the way for higher prices.
Yellow Line:
Suggests a slower trajectory, indicating more consolidation before an eventual move upward. Slow and steady often wins the race, offering sustainable growth.
Red Line:
Represents a golden opportunity to accumulate. If the price breaks below $0.09, a retest of $0.06 could be in play, forming another HL and offering buyers another entry point.
Conclusion
Patience and a steady mindset are critical. The setup looks promising, but as always, managing risk is essential. NGL seems poised for an exciting move—stay prepared!
On the daily timeframe (TF), a reversed Head & Shoulders (H&S) pattern appears to be unfolding, with a breakout (BO) forming a Higher High (HH). Resistance has been found at $0.1129, potentially marking a Higher Low (HL) or signaling another move in the making.
The price is currently bouncing off the neckline of the H&S. If we hold above $0.09 with two more healthy candles, NGL could be on track to reach $0.134—a 50% move from the current level. Additionally, NGL is showing strength, bouncing from the 50 RSI.
Key Levels to Watch
Blue Line:
Indicates a quick upward move, with a short-term stop at $0.1129 before pushing for a new HH. This would signal a potential early reversal and pave the way for higher prices.
Yellow Line:
Suggests a slower trajectory, indicating more consolidation before an eventual move upward. Slow and steady often wins the race, offering sustainable growth.
Red Line:
Represents a golden opportunity to accumulate. If the price breaks below $0.09, a retest of $0.06 could be in play, forming another HL and offering buyers another entry point.
Conclusion
Patience and a steady mindset are critical. The setup looks promising, but as always, managing risk is essential. NGL seems poised for an exciting move—stay prepared!
Penafian
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