Weekly Chart on Natural Gas (NG) by ThinkingAntsOk
Use this as a guide to develop your view of the situation.
Main items we can see on the Weekly Chart:
a)Take a look at the 2 previous descending trendlines (white) in the past
b)Observe how in both of them the price broke the descending trendline and after that, a corrective movement came
c)That corrective movement took about 3 to 5 weeks to be ready
d)After that, the beginning of a huge bullish movement started again
e)Currently, we think we are in the phase where the price is breaking the descending trendline, now we have to wait for more candlesticks to come before setting orders.
Main items we can see on the Weekly Chart:
a)Take a look at the 2 previous descending trendlines (white) in the past
b)Observe how in both of them the price broke the descending trendline and after that, a corrective movement came
c)That corrective movement took about 3 to 5 weeks to be ready
d)After that, the beginning of a huge bullish movement started again
e)Currently, we think we are in the phase where the price is breaking the descending trendline, now we have to wait for more candlesticks to come before setting orders.
