There is a trading opportunity to buy in NATGAS

7 jun 2020

Midterm forecast:
. While the price is above the support 1.550, beginning of uptrend is expected.
. We make sure when the resistance at 2.250 breaks.
. If the support at 1.550 is broken, the short-term forecast -beginning of uptrend- will be invalid.

Technical analysis:
. While the RSI downtrend #1 is not broken, bearish wave in price would continue.
. A peak is formed in daily chart at 2.024 on 05/20/2020, so more losses to support(s) 1.800, 1.700 and minimum to Major Support (1.550) is expected.
. Price is below WEMA21, if price rises more, this line can act as dynamic resistance against more gains.
. Relative strength index (RSI) is 47.

Trading suggestion:
. There is a possibility of temporary retracement to suggested support zone (1.800 to 1.700). if so, traders can set orders based on Price Action and expect to reach short-term targets.

Beginning of entry zone (1.800)
Ending of entry zone (1.700)

Take Profits:
TP1= 1.900
TP2= 2.000
TP3= 2.100
TP4= 2.250
TP5= 2.500
TP6= 2.700
TP7= 2.950
TP8= 3.350
TP9= 3.700
TP10= Free

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