FX.co ★ Technical Analysis of Intraday Price Movement of Natural Gas Commodity Asset, Wednesday August 07, 2024.

Although currently the natural gas commodity asset is weakening, which is indicated by its price movement moving harmoniously within the Bearish Pitchfork channel and its price movement moving below the EMA 20 & EMA 50, however, with the appearance of a deviation pattern between the price movement and the Momentum indicator, it gives an indication that in the near future there will be a strengthening correction in #NG where the level of 2,147 will try to be broken upwards if successful then #NG will continue its strengthening correction to the level of 22.68 as its main target and 2,439 as the next target if momentum and volatility support it, however if on its way to the target levels suddenly #NG returns to its initial bias, especially if it breaks down below the level of 1,855, then all strengthening correction scenarios that have been described previously will become invalid and canceled by themselves.

(Disclaimer)