1. NG had achieved the highest price level with 17.2% increase since 07/03/22 as an impact due to expected shortage in market after sanctions declaration on Russia. The old maximum price $5.184 will act as resistant limit above that level and the vice versa in the below direction of prices.
2. At the moment, bulls are taking a small rest around the testing zone and VWAP (white) curve. They are charging power to re-hit the 100% level @ $5.30x after successfully passing the resistant due EMA20. Bulls also must trust their power and beliefs about future pricing increase to pass the major resistance (red) zone and hit the second target @ 127.2% level below $5.53x as highest high level of ZigZag++ indicator.
3. Prices are having good support @ $5.12x and resistance from $5.18x and $5.30x respectively.
Tools used in analysis are BB band, Fib pattern, MA Ribbon, volume , VWAP indicator, and ZigZag ++.
2. At the moment, bulls are taking a small rest around the testing zone and VWAP (white) curve. They are charging power to re-hit the 100% level @ $5.30x after successfully passing the resistant due EMA20. Bulls also must trust their power and beliefs about future pricing increase to pass the major resistance (red) zone and hit the second target @ 127.2% level below $5.53x as highest high level of ZigZag++ indicator.
3. Prices are having good support @ $5.12x and resistance from $5.18x and $5.30x respectively.
Tools used in analysis are BB band, Fib pattern, MA Ribbon, volume , VWAP indicator, and ZigZag ++.