Natural Gas Futures ( QG1! ), H4 Potential for Bearish Momentum
Type: Bearish Momentum
Resistance: 600.5
Pivot: 516.5
Support: 327.8
Preferred Case: On H4, as the price moving below ichimoku cloud and descending channel , we have a bearish bias that the price may drop from the pivot at 516.5. which is in line with the overlap resistance to the 1st support at 327.8, where the 127.2% fibonacci extension is.
Alternative scenario: Alternatively, the price may rise to the 1st resistance at 600.5, which is in line with the 38.2% fibonacci retracement .
Fundamentals: There are no major news.
Resistance: 600.5
Pivot: 516.5
Support: 327.8
Preferred Case: On H4, as the price moving below ichimoku cloud and descending channel , we have a bearish bias that the price may drop from the pivot at 516.5. which is in line with the overlap resistance to the 1st support at 327.8, where the 127.2% fibonacci extension is.
Alternative scenario: Alternatively, the price may rise to the 1st resistance at 600.5, which is in line with the 38.2% fibonacci retracement .
Fundamentals: There are no major news.