NATURALGAS BREAKOUT WATCH: BULLISH MOMENTUM?📊 Natural Gas Detailed Analysis – 1HR Timeframe 📊
Pattern Formation & Breakout Potential: Natural Gas has been trading within a falling wedge pattern, a bullish reversal structure, indicating potential upside momentum.
A breakout attempt is visible as the price is trying to sustain above the wedge resistance.
Key Observations
✅ Resistance Zone: 343 - 345 (previous supply zone, acting as resistance)
✅ Support Zone: 330 - 335 (previous accumulation area)
✅ Volume Spike: Increased buying interest indicates strong demand near the lower levels.
✅ EMA (55): Currently acting as dynamic resistance near 342-343. A sustained breakout above this could trigger a further upside move.
🎯 Target Levels:
First Target: 350
Second Target: 354
Extended Target: 360 (if momentum sustains)
🛑 Stop-Loss Strategy: Placing SL below 338 ensures a safe risk-reward ratio in case of a false breakout.
A breakdown below 330 invalidates the bullish setup.
If price breaks above the resistance zone and sustains with strong volume, it can trigger bullish momentum towards 350-354 levels.
However, failure to hold above resistance can result in sideways consolidation or a pullback before the next leg of movement.
Disclaimer: Traders should watch price action closely and wait for confirmation before entering positions.
📢 Stay alert for market developments and manage risk accordingly! 🚀🔥
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