Natural Gas Futures (NG1!) | H4 Rising into Resistance
Natural Gas Futures (NG1!) | H4 Rising into Resistance
Type:
Bearish Reversal
Key Levels:
Resistance: 2.448
Pivot: 2.146
Support: 1.838
Preferred Case:
Looking at the H4 chart, my overall bias for natural gas futures (NG1!) is bearish due to the price trading under the bearish Ichimoku Cloud and the stochastic oscillator indicating an 'overbought' condition, similar to the signals on 23rd and 31st July. The price could make a reversal off the pivot and fall toward the 1st Support at 1.838
Alternative Scenario:
Price may break above the pivot at 2.146 and rise towards the 1st Resistance level at 2.448.