FX.co ★ Technical Analysis of Intraday Price Movement of Natural Gas Commodity Asset, Tuesday December 03, 2024.

Natural Gas commodity assets on the 4-hour chart appear to be moving in a Sideways condition with decreasing volatility, which is confirmed by the formation of a Triangle pattern and WMA (30 Shift 2) moving between the Candle bodies but with a downward slope and the price movement of #NG which is below the WMA (30 Shift 2) and is also confirmed by the CCI indicator (30) which has successfully fallen from levels 100, 0, -100 and is now stuck at the area level of 0 to -100, indicating that in the near future Natural Gas commodity assets have the potential to continue their weakening where the level of 3,071 will be tested to be broken below if this level is successfully broken and #NG successfully closes below this level, then as long as there is no further strengthening that successfully breaks and closes above level 3,560, #NG will weaken down to levels 2,922 and 2,784 as the next target if momentum and volatility support.

(Disclaimer)