NATURAL GAS Strong sell on the 1D MA50.

5 янв.

Natural Gas has been so far following the sell strategy we shared with you a month ago (December 04, see chart below), having already hit one Target (2.425):

Yesterday the price hit the 1D MA50 (blue trend-line) and managed to close the 1D candle below it, which stands out as the most efficient sell opportunity since the October 27 2023 High. Technically we can see a new Channel Down emerging with two Lower Lows and two Lower Highs already. Our long-term 2.135 Target on Support 2 remains, but technically the downside can be considerably bigger (-38.67% was the previous Bearish Leg).

If the price breaks above Resistance 1 (2.990), we will take an additional short-term buy, targeting 3.275 (Resistance 2).

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