Type: Bearish DropKey Levels: Resistance: 9.276Pivot: 8.456Support: 7.557Preferred Case:On the H4, as the DIF is crossing the signal line and MACD histograms are shrinking above zero, we have a bearish bias that price may drop from the pivot at 8.456 where the 61.8% fibonacci retracement is to the 1st support at 7.557, which is in line with overlap support and 50% fibonacci retracement .Alternative Scenario:Alternatively, price could rise to 1st resistance at 9.276 where the swing high is.Fundamentals:Western sanctions against major exporter Russia squeezed an already under-supplied global market causing a surge in crude and natural gas prices. Therefore, from fundamental view, the price of gas is rising, we should take note of this confliction with technical view.
from Tickmill Expert Blog - Forex Traders Blog https://www.tickmill.com/blog/natural-gas-futures-ng1-h4-potential-for-bullish-momentum"
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