NATURAL GAS – Week 4 – Two scenarios in play
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In the previous week, Natural Gas pulled back very deep and it increased the chance that we might be heading towards a new low. Depending on the price-action, we have in mind two scenarios that could unfold this week:
1) If we break the trendline convincingly and consolidate above it, the bullish move is back on the cards (blue arrows).
2) If the price moves sideways for a while, most likely we will be making a new low (orange arrows).
Trade with care.
Best regards,
Financial Flagship
Disclaimer: The analysis provided is purely informative and it should not be used as financial advice. Remember that you need a plan before you start trading; so, take this knowledge and use it as a guidebook that will ultimately help you understand the market and easily predict your next move.
1) If we break the trendline convincingly and consolidate above it, the bullish move is back on the cards (blue arrows).
2) If the price moves sideways for a while, most likely we will be making a new low (orange arrows).
Trade with care.
Best regards,
Financial Flagship
Disclaimer: The analysis provided is purely informative and it should not be used as financial advice. Remember that you need a plan before you start trading; so, take this knowledge and use it as a guidebook that will ultimately help you understand the market and easily predict your next move.
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It looks like the 1st scenario played out.
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