Type: Bullish BounceKey Levels:Resistance: 5.098Pivot: 4.406Support: 4.227Preferred Case:Prices are consolidating in a daily triangle. We see the potential for a bounce from our Pivot at 4.406 in line 61.8% Fibonacci retracement towards our 1st resistance at 5.098 in line with 78.6% Fibonacci retracement. Our bullish bias is further supported prices trading above our Ichimoku clouds.Alternative Scenario: If prices were to reverse, they can potentially dip towards our 1st support at 4.227 which is in line with 61.8% Fibonacci projection and 78.6% Fibonacci Projection.Fundamentals:U.S. and U.K sanctions on fuels and plans to phase out crude by end of 2022 will mean potentially further rally on the commodity.
from Tickmill Expert Blog - Forex Traders Blog https://www.tickmill.com/blog/natural-gases-futures-ng-h4-potential-for-bullish-bounce"
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