NATGAS - the flag pattern breakout
The price of natural gas futures has broken an upper limit within a downward channel. The channel may be also described as a flag pattern which usually a trend continuation structure.
If the current breakout is the beginning of the new upward impulse wave the price could reach the next Fibonacci expansions. The first one which is potentially important is located at 2,06 USD (100% Fibo). The next one is set by 161,8% at 2,33 USD.
The nearest potential support could be located at the broken upper limit of the mentioned flag pattern.
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Daniel Kostecki, Chief Analyst Conotoxia Ltd.
Materials, analysis and opinions contained, referenced or provided herein are intended solely for informational and educational purposes. Personal opinion of the author does not represent and should not be constructed as a statement or an investment advice made by Conotoxia Ltd. All indiscriminate reliance on illustrative or informational materials may lead to losses. Past performance is not a reliable indicator of future results.
79% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
If the current breakout is the beginning of the new upward impulse wave the price could reach the next Fibonacci expansions. The first one which is potentially important is located at 2,06 USD (100% Fibo). The next one is set by 161,8% at 2,33 USD.
The nearest potential support could be located at the broken upper limit of the mentioned flag pattern.
________
Daniel Kostecki, Chief Analyst Conotoxia Ltd.
Materials, analysis and opinions contained, referenced or provided herein are intended solely for informational and educational purposes. Personal opinion of the author does not represent and should not be constructed as a statement or an investment advice made by Conotoxia Ltd. All indiscriminate reliance on illustrative or informational materials may lead to losses. Past performance is not a reliable indicator of future results.
79% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
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Pernyataan Penyangkalan
Informasi dan publikasi tidak dimaksudkan untuk menjadi, dan bukan merupakan saran keuangan, investasi, perdagangan, atau rekomendasi lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Persyaratan Penggunaan.