Natural Gas Short term target 4.35, long term target 2.33

11 gen 2023

Natural Gas recently hit the critical support at 3.4 and I see strong technical bounce to 4.3 level, hitting down sloping resistance line (red) which also coincides with Fib .618 level. Overall long term sentiment is still bearish, if the NG doesn't break above the 4.5 in upward momentum, we might see it crash towards 2.33 before mid of 2023.

Let me thoughts and comments on this post.

13 gen 2023

Nota

Holding $3.3 - 3.4 support level is critical.. if it breaks , we can see it flush to downwards target.. tight stop loss required

19 gen 2023

Nota

$3.3 support level is getting breached. Might test $3 short term.

22 gen 2023

Nota

Very close to $3 today.. Low was $3.09.. Lot of selling pressure in NG..

25 gen 2023

Nota

$3 Levels getting breached.. If this support doesn't hold, next support level at @ $2.63

29 gen 2023

Nota

Testing 2.6 support levels.. low today was 2.61 .. NG in oversold territory.. My long term target was 2.33 in next few months.. didn't expect to get to those levels in very short term.. charts are charts, end of day they dictate the patterns..

3 feb 2023

Trade chiuso: obiettivo raggiunto

Final target achieved. Today low was 2.341 .. My Fib measured target was 2.33 .. We should see some bounce..