Natural Gas Futures (RB1!) H1 | Bullish Uptrend to Extend Further?
Natural Gas Futures (RB1!) H1 | Bullish Uptrend to Extend Further?
Type:
Bullish Bounce
Key Levels:
Resistance: 3.722
Pivot: 3.425
Support: 3.303
Preferred Case:
Looking at the H4 chart, the price is trading close to the pivot and it could potentially make a bullish bounce off this level to rise towards the 1st Resistance at 3.722.
Alternative Scenario:
Price may break under the Pivot at 3.425 and fall towards the 1st Support at 3.303.
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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.