NATURAL GAS Futures (NG1!), H4 Potential for Bullish Rise
Title: NATURAL GAS Futures (NG1!), H4 Potential for Bullish Rise
Type: Bullish Rise
Resistance: 3.520
Pivot: 2.623
Support: 1.968
Preferred Case: Looking at the H4 chart, my overall bias for NG1! is bullish due to the current price being above the Ichimoku cloud, indicating a bullish market. To add confluence to this bias, price has also broken above the descending trend line. Price is currently also on an ascending trendline.
Looking for price to rise from the pivot at 2.623 where the overlap support is towards the overlap resistance at 3.520.
Alternative scenario: Alternatively, the price may drop towards the support at 1.968, where the previous swing low is.
Fundamentals: There are no major news.
Type: Bullish Rise
Resistance: 3.520
Pivot: 2.623
Support: 1.968
Preferred Case: Looking at the H4 chart, my overall bias for NG1! is bullish due to the current price being above the Ichimoku cloud, indicating a bullish market. To add confluence to this bias, price has also broken above the descending trend line. Price is currently also on an ascending trendline.
Looking for price to rise from the pivot at 2.623 where the overlap support is towards the overlap resistance at 3.520.
Alternative scenario: Alternatively, the price may drop towards the support at 1.968, where the previous swing low is.
Fundamentals: There are no major news.
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