NATURAL GAS: Hit the 2 month Support. Buying is favored.

5 พ.ค. 2023

Natural Gas hit the S1 Zone today (2.100 - 2.060), which started forming on February 22nd. This support has held another 8 times and with the 1D time frame neutral technically (RSI = 45.392, MACD = -0.046, ADX = 18.986), we are making a buy call targeting the 0.382 (TP = 2.440). In addition, the 1D RSI is bouncing off the HL trendline.

In the event however that the 1D candle closes under 2.060, we will revert to selling and target the -0.236 Fibonacci level (TP = 1.830).


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