Seasonally, April is on average a bullish month for Natural Gas and looks to have set up for a similar outcome this year.
It has made a huge double bottom on the daily with a extreme bullish RSI divergence and you can see a similar positive RSI set up on the hourly and the 4 hour chart as presented in my post.
My target is modest 3 which would is the most recent resistance tested on the 3rd of March and a increase of 46%.
Good luck!
It has made a huge double bottom on the daily with a extreme bullish RSI divergence and you can see a similar positive RSI set up on the hourly and the 4 hour chart as presented in my post.
My target is modest 3 which would is the most recent resistance tested on the 3rd of March and a increase of 46%.
Good luck!
Trade active:
With a correction to the base of the rectangle allows for an opportunity to buy in if you missed out initially. Bullish RSI divergence reloaded.
Trade active:
Looks like a correction after breaking out of the bullish diamond pattern reversal
Looks like a correction after breaking out of the bullish diamond pattern reversal
Trade active:
Retested the diamond reversal pattern and looks to be on it's way up.
Retested the diamond reversal pattern and looks to be on it's way up.
Comment:
Onto 2450 after breaking resistance
Onto 2450 after breaking resistance
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Support found once again, but as a result has developed a H&S pattern which needs to be invalidated. Otherwise we might have trouble. A lot of shorts could be trapped as a result of the H&S.
Trade active:
A cup and handle has formed. If it breakout then we are in for some bags
Trade closed: target reached:
Well April did turn out to be bullish. Hope anyone following cashed out before May which filled the gap below!
We can now see that a diamond harmonic pattern has manifested which often suggest a turn in the direction of the price trend, which in this case would be a bullish turn.