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Natural gas Struggling at Strong Support

Posted: 14 Sep 2020 03:54 AM PDT

On the chart above, we have plotted three different MAs on the 1-hour chart of Natural gas futures. As you can see, the 62 MA is indicating a downtrend ahead. And 5 MA & 30 MA are crossing each other for a reversal. This reversal can be for 174 to 180 levels.

But according to the support & resistance trendline, we may see continue price collapsing.

I have also highlighted a support area with green color. Particularly from this point, it’s taking a u-turn.

For safe traders, short positions can be initiated after 170 levels.
Targets: 167.6 – 165 – 162.6 – 160

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