Natural Gas (NG) Retesting Weekly Chart Downchannel Resistance

Tradable Patterns (https://tradablepatterns.com) provides technical analysis on a subset of three CME/ICE/Eurex futures (commodities, equity indices, and interest rates), spot FX and cryptocurrency markets, which it considers worth monitoring for the day/week for trend reversal or continuation. For less experienced traders, tutorials and workshops are offered online and throughout Southeast Asia.

Natural Gas (NG) edged higher almost 1% yesterday leading into today's highly anticipated weekly storage report. NG is nearing the end of an ascending triangle (on the 4hr chart) and a somewhat symmetrical triangle (on the daily chart). A bullish report today at 1030am EST could complete both triangles and also be the catalyst for a decisive break above downchannel resistance (on the weekly chart) and a retest of the psychologically key 3 whole figure in the next few days or so. The weekly, daily and 4hr RSI, Stochastics and MACD are bottomish, rallying or consolidating recent gains. I am looking to go long in the green zone (of the daily chart), targeting the red zone for early next week. The amber/yellow zone is where I might place a stop if I was a swing trader (although in my personal account with which I seldom hold overnight I set my stops tighter).


Natural Gas (NG) Weekly/Daily/4hr

NG (Natural Gas) Technical Analysis

Visit https://tradablepatterns.com for today's technical analysis on Raw Sugar, Silver