17.12.202408:12 Forex Analysis & Reviews: Technical Analysis of Intraday Price Movement of Natural Gas Commodity Asset, December 17, 2024.

On the 4-hour chart, the Natural Gas commodity asset appears that #NG have entered the Sideways phase of the Trading Days type so that this commodity asset has the potential to move within the range within the Ross Envelope where after being held at the Resistance level of 3.560, #NG weakened where the weakening was also confirmed by the appearance of deviations between the movement of the commodity asset and the Stochastic Oscillator indicator and its price movement which moved below the WMA (30 Shift 2) with a decreasing slope also coupled with the appearance of the Ascending Broadening Wedge pattern, so in the near future #NG is predicted to continue its weakening to the level of 2.977 as its main target and if the momentum and volatility support it, 2.892 will be the next target, but if on its way to the previously described target levels, there is a sudden strengthening again until it breaks through and closes above the level of 3.355, then all the weakening scenarios that have been described will become invalid and automatically canceled by themselves.

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