FX.co ★ mozell.abshire | Natural Gas (NG)

#NG / Gas / GASUSD

Sunday's technical analysis of the pair on a 1-hour chart. Here, the price is in a flat movement (4.37), hitting a peak and preparing to correct downwards from there. Based on the oscillator readings, which indicate an overbought condition and a descending trend in the positive zone of the oscillator histogram, the price may break out of the sideways movement to the downside and continue to work towards the large red zone. The price could fully retrace the red zone, correct down to test support levels: the moving averages (MA) - the blue line at 4.10, the red line at 3.75, and the black line at 3.35. The price may break below the black MA level and head towards testing the triple bottom level at 2.85.