Natural Gas Futures (NG1!) D1 | Overlap Support at 61.8% Fibonacci Retracement
Natural Gas Futures (NG1!) D1 | Overlap Support at 61.8% Fibonacci Retracement
Type:
Bullish Bounce
Key Levels:
Resistance: 3.97
Pivot: 3.00
Support: 2.56
Preferred Case:
Looking at the D1 chart, the price could fall towards an overlap support where it could potentially make a bullish bounce off this level to rise towards the 1st Resistance at 3.97.
Alternative Scenario:
Price may break below the Pivot at 3.00 and fall towards the 1st Support at 2.56.
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Desmond Leong runs an award-winning research firm (The Technical Analyst finalists 2018/19/20 for Best FX and Equity Research) advising banks, brokers and hedge funds. Backed by a team of CFA, CMT, CFTe accredited traders, he takes on the market daily using a combination of technical and fundamental analysis.