NATGAS Bullish divergence on the 2D chartUS Natural Gas (Spot) (XNGUSD) forum
NATGAS Bullish divergence on the 2D chart
NATURALGAS still some strong resistance at 3.43-3.55 1h chart. Price is oversold after a pullback from the uptrend with institutionals buying the dip at 1d with bullish divergence, but it's also overbought at 4h with possible bearish divergence accumulating and technical downtrend at 4h and 1h. We might still see a rejection at 3.43-3.55 and a retest of support near 3.30 before finally we can hope for a sustained bullrun.We might be trading on a tight range for the upcoming days given the existing chart conditions inside 3.30-3.55 until bears give up.
I'm not looking to enter long unless 4h gets oversold with bullish divergence again.
If we get a clear cut rejection from 3.43-3.55 with volume I'll be entering a short scalp targeting 3.30-3.20 for a test of support. There's a ton of liquidity sellside and I wouldn't be surprised if with the current 4h/1h downtrend price tested as low as 3.0.
Good luck everyone!
PS: unless we get back to technical uptrend across timeframes it's only worth scalping intraday for me personally and not holding unnecessarily over night/weekend.
NATGAS Yesterday's jump was on reduced volume and open interest. There is diminishing strength on the long side. Shorting is better. Now go look if you can find chart shapes that match items in your cupboard and trade on them.
NATURALGAS you still convinced this is bullish ? I don't think so
NATURALGAS looking like a bull trap to me more than bear trap. find out after london close
NATURALGAS So if we break 3.47 and the double top from Monday then it's on and up.. otherwise maybe a messy range for a while?NATURALGAS trap for bears?
NATURALGAS Looks like a classic kiss good bye of the 200EMA. Has to be confirmed though.NATURALGAS sell starting
NGAS im still not convinced this is long.. if you look gas has created a huge bear flag and we are under all important levels. This could make one hell of a move down, ill stay out of the matket incase this weekend gap is down