Bullish NATGAS - 28 November 2022

EURUSD Forex

Natural Gas

Bullish Closed

A Price Action Ascending Triangle pattern formation on the 4 Hour time frame chart supports Natural Gas Bullish bias. A break of 7.413 will support the rise towards the target of 8.028 the break of 8.028 would push the price to 8.438.

SUPPORT AND RESISTANCE LEVELS

Pivot Point 1.935
Support S1: 1.934, S2: 1.933 , S3: 1.932
Resistance R1: 1.936 , R2: 1.937 , R3: 1.938

Summary

Instrument :

Natural Gas

Direction :

Bullish

Pattern Name :

Ascending Triangle

Probability :

45%

Entry Level :

7.413

Activation Time :

2022-11-23 15:00

Age :

205 Bars

Progress :

12%

Close Time :

2022-11-28 19:00

Time Frame :

4 Hour

Status :

Closed

CHART ANALYSIS

MORE SIGNALS

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Ascending Triangle

An ascending triangle is a chart pattern used in technical analysis. It is created by price moves that allow for a horizontal line to be drawn along the swing highs, and a rising trend line to be drawn along the swing lows. The two lines form a triangle. Traders often watch for breakouts from triangle patterns. The ascending triangle is a bullish formation that usually forms during an uptrend as a continuation pattern. There are instances when ascending triangles form as reversal patterns at the end of a downtrend, but they are typically continuation patterns.