$NATURALGASOn Friday selloff sent the market in a range. It went higher than Thursday's high but also dropped lower than Thursday’s low.
Bigger picture, the market still looks strong overall 4h, 1d, 1w. So if prices fall more, it could just be part of a normal pullback in an uptrend. That might offer quick trading chances on the 5-minute chart, but they come with more risk.
On the 15-minute chart, the short-term trend is down. Price is below the Ichimoku cloud and the 300 SMA, which might now act as resistance, especially around Thursday’s low, which also lines up with a key volume level (Point of control on the right hand side). If price moves up to around 4.05 and gets rejected, that could be a good spot to look for short trades with a scalping setup.
Still, since the bigger trend is up, I’m more interested in buying the dip. I’m watching support zones at 3.9, 3.8, and 3.7. If price bounces from one of those levels with strong volume and signs of buyers stepping in, I’ll look to go long.
Due to the recent developments in the Middle East, I would not exclude the possibility of a gap-up this Monday. In that case we'll have a strong indication to buy the dip between UK session and NY premarket session.
Good luck everyone!
Bigger picture, the market still looks strong overall 4h, 1d, 1w. So if prices fall more, it could just be part of a normal pullback in an uptrend. That might offer quick trading chances on the 5-minute chart, but they come with more risk.
On the 15-minute chart, the short-term trend is down. Price is below the Ichimoku cloud and the 300 SMA, which might now act as resistance, especially around Thursday’s low, which also lines up with a key volume level (Point of control on the right hand side). If price moves up to around 4.05 and gets rejected, that could be a good spot to look for short trades with a scalping setup.
Still, since the bigger trend is up, I’m more interested in buying the dip. I’m watching support zones at 3.9, 3.8, and 3.7. If price bounces from one of those levels with strong volume and signs of buyers stepping in, I’ll look to go long.
Due to the recent developments in the Middle East, I would not exclude the possibility of a gap-up this Monday. In that case we'll have a strong indication to buy the dip between UK session and NY premarket session.
Good luck everyone!
