Us natural gas has been falling since June 20th and stopped a decline nearby the 3.3900 level with minor false breakouts of it. Currently we observe the reversal bullish wedge pattern, which is supported by a divergency on rsi on 4-h timeframe. Yesterday natural gas trading session opened with a gap downside, however, later, closer to the American session we observed buying volumes and the asset managed to hold above the 3.3900, which makes it interesting to go long.
If the price breaks above the MA50 at 3.4824, would be nice to set a
🔼buy stop order at 3.5144 with a
💰take profit at 3.8000 and a
❌stop loss at 3.2494, below the trendline.
The risk-reward ratio is 1:1.08.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.