Natural Gas, 4-Hour, Head and Shoulders

28. Aug. 2022

Due to a head and shoulders pattern, a trend break, a supply reaction and an RSI divergence, I predict a decrease in natural gas' price.

3. Sept. 2022

Anmerkung

The first target (demand zone) reached.

7. Sept. 2022

Anmerkung

The second target reached.

17. Sept. 2022

Anmerkung

The idea is even current now. The second demand zone worked perfectly (also within a red indecision candle demand area, which is not marked down). Then there was a reaction to the resistance as the complement of the head and shoulders pattern.

30. Sept. 2022

Anmerkung

Now we can see that an even bigger head and shoulders pattern has developed. In order to complete the formation, it is necessary to return to retracements of the lowest zone.