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NGAS: current levels look too strong for the bears to overcome

NGAS D1 Our expectations:

Wide consolidation, with the price currently lying on a very strong horizontal support area, which is likely to lead to an increase in price.

9th by DeM Sequential and a turn in the heavily oversold zone below 0.7 of DeM (14) reinforce the likelihood of a rise in the price of natural gas.

Trading opportunities here are 2:

The more aggressive option is entering now or after the price reaches 2,515, while the more conservative is to wait for a confirmation from a Japanese candle formation such as a bullish engulfing or a pin bar.

SL 2,41

Alternative scenario: A real and proven breakout below the support area could lead to a serious drop and a price around 1.6 for the raw material.


 Trader Nikolay Georgiev


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