It has been almost 1.5 month since we last updated our Natural Gas (NG) thesis:
As you see the symmetry within this long-term Bullish Megaphone worked perfectly and our sell hit the 1D MA200 (orange trend-line) - 1D MA300 (green trend-line) Support Zone and rebounded. If you took that last buy and you haven't booked profits already, it may be a good time to do so if the current Support on the 1D MA50 (blue trend-line) breaks. The reason is the Double Top formation created on the July 26 rejection. If the 1D MA50 breaks, target again the 1D MA200 at least. This long-term pattern has been very consistent and there seems to be no reason to change that until it breaks either direction.
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As you see the symmetry within this long-term Bullish Megaphone worked perfectly and our sell hit the 1D MA200 (orange trend-line) - 1D MA300 (green trend-line) Support Zone and rebounded. If you took that last buy and you haven't booked profits already, it may be a good time to do so if the current Support on the 1D MA50 (blue trend-line) breaks. The reason is the Double Top formation created on the July 26 rejection. If the 1D MA50 breaks, target again the 1D MA200 at least. This long-term pattern has been very consistent and there seems to be no reason to change that until it breaks either direction.
--------------------------------------------------------------------------------------------------------
Please like, subscribe and share your ideas and charts with the community!
--------------------------------------------------------------------------------------------------------
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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.
👑Best Signals (Forex/Crypto+70% accuracy) & Account Management (+20% profit/month on 10k accounts)
💰Free Channel t.me/tradingshotglobal
🤵Contact info@tradingshot.com t.me/tradingshot
🔥New service: next X100 crypto GEMS!
💰Free Channel t.me/tradingshotglobal
🤵Contact info@tradingshot.com t.me/tradingshot
🔥New service: next X100 crypto GEMS!
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.