Natural Gas (NATGASUSD): Technical Outlook 💨

3 בנוב׳ 2022

A lot of questions about Natural Gas.
Here is my detailed technical outlook.

2 weeks ago, the market reached a key daily structure support and nicely bounced from that.

Zooming in the chart and analyzing a price action, we may spot an ascending triangle formation - a classic bullish accumulation pattern.
The price sets higher lows, respecting 6.2 - 6.6 horizontal resistance.

I believe that the next bullish move will initiate after a bullish breakout of the underlined structure (we need a daily candle close above that to confirm the breakout).
A bullish continuation will be expected to 7.076 then.

Alternatively, a bearish breakout of a trend line may push the market to a current low.

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