NG shows weakness and lost momentum !!
NG was very bullish at the start of 2022. This massive Uptrend stopped in June and led to a correction at the 0.618 Fib line.
After that, NG returns to the same old high, respecting the trend line and forming a significant Resistance.
the RSI is showing a considerable divergence as the second high lost momentum to continue pushing higher.
A break of the trend line in the next weeks will signal a huge short opportunity as the price may reach the 0.236 Fib line and if it breaks through the 0.382-Fib line as the second potential target.
After that, NG returns to the same old high, respecting the trend line and forming a significant Resistance.
the RSI is showing a considerable divergence as the second high lost momentum to continue pushing higher.
A break of the trend line in the next weeks will signal a huge short opportunity as the price may reach the 0.236 Fib line and if it breaks through the 0.382-Fib line as the second potential target.
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