After last week's move to the upside reaching the resistance, price is currently consolidating at the resistance and at the same time forming a bearish div called the THE REGULAR BEARISH DIVERGENCE. The regular bearish div is a type of divergence found when price is making a higher high (HH), but the oscillator is lower high (LH), then you have regular bearish divergence.
But traders need to know that this bearish divergence is a signal to close a long trade position and get ready to open a short position.
As price loves to retrace 50% of its move, the current state of the NATGASUSD, is clear with an impending reversal to reach the 0.5fib at $2.475.
The following are the levels traders needs to keep an eye on:
Breakdown price : $2.615
Support 1: $2.475
Support 2: $2.337
Good luck to everyone! Click the follow button to stay tuned for more trading ideas! Like the idea? Hit the like button!
Ideas published should not be referred to as an investment advice and happy new months guy.
But traders need to know that this bearish divergence is a signal to close a long trade position and get ready to open a short position.
As price loves to retrace 50% of its move, the current state of the NATGASUSD, is clear with an impending reversal to reach the 0.5fib at $2.475.
The following are the levels traders needs to keep an eye on:
Breakdown price : $2.615
Support 1: $2.475
Support 2: $2.337
Good luck to everyone! Click the follow button to stay tuned for more trading ideas! Like the idea? Hit the like button!
Ideas published should not be referred to as an investment advice and happy new months guy.