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💡NGAS (NAT.GAS) – Weekly Technical Analysis Update for CAPITALCOM:NATURALGAS by ForecastCity_World

Midterm forecast:

3.400 is major support; while this level is not broken, the Midterm wave will be uptrend.

We will close our open trades if the Midterm level 3.400 is broken.

Technical analysis:

While the RSI support #1 at 47 is not broken, the probability of price decrease would be too low.

A trough is formed in the daily chart at 3.730 on 08/19/2021, so more gains to resistance(s) 4.650, 4.900, 5.000, and more heights are expected.

Price is above WEMA21; if a price drops more, this line can act as dynamic support against more losses.

The relative strength index ( RSI ) is 71.

Take Profits:

TP1= @ 2.600

TP2= @ 2.750

TP3= @ 2.900

TP4= @ 3000

TP5= @ 3.150

TP6= @ 3.400

TP7= @ 3.650

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