Natural Gas Path Ahead
#Natural Gas : Natural Gas is looking very attractive to go long at current juncture. #NG is making double bottom around 2.10-2.15 zone and #RSI is also suggesting Positive divergence on weekly Chart.
On weekly Chart #NG also made Bullish hammer which shows the demand in #price. Upside is open for 3.80-4.00 zone. R:R is very favorable to go long in #NG from current market price.
We will understand about Bullish hammer from below mentioned image :
Bullish Hammer Candlestick Pattern : The hammer candlestick is a bullish trading pattern that suggests a price has found its bottom and is poised for a trend reversal.
A Hammer candlestick pattern is a bullish reversal that occurs at the bottom of a downtrend. Hammers signal that the bears have lost control over the prices, indicating a potential reversal to an uptrend. Confirmation occurs when the candle after the Hammer closes above the closing price of the hammer.
NG looks good for buy with triple confirmation :
1) Double Bottom
2) RSI Positive Divergence
3) Bullish Hammer Candlestick
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