Natural Gas has been hanging on key support trend line (WHITE) running from Jun 2020.. If that level gets breached, expect Natural Gas to hit immediate target $4.73 (Yellow Line).
Then eventually we see the targets $3.81 (Orange line) and 3.39 (Green line) in 2023. With economy running into risks of recession in 2023, we'll see pullbacks in NG.
We'll not go to the targets directly, expect technical bounces at the key support levels - $4.73 , $3.81 and $3.39.
Then eventually we see the targets $3.81 (Orange line) and 3.39 (Green line) in 2023. With economy running into risks of recession in 2023, we'll see pullbacks in NG.
We'll not go to the targets directly, expect technical bounces at the key support levels - $4.73 , $3.81 and $3.39.
Trade active:
First immediate target $4.73 breached out. Expect some technical bounce before it hits the next target $3.81
Trade active:
Pretty close to the first target today $3.81 missed by few pennies.. Today's low was $3.89..
Trade closed: target reached:
First target 3.81 reached today. Low was 3.80. Next on target $3.39... I see some good technical bounce at $3.5 levels
Trade closed: target reached:
Closing trade... got pretty close to target $3.396.. Today's low was 3.422.. I can see some technical bounce from this level.. back to $4 to $4.2
Comment:
Today's low was $3.384 .. hit my final target of $3.39.. This is a good support zone for bottom out.. let's see how the chart plays.. if this support level fails, more downside..
