29.10.202408:17 Forex Analysis & Reviews: Technical Analysis of Intraday Price Movement of Natural Gas Commodity Asset, Tuesday October 29, 2024.

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By successfully breaking out of its Ascending Broadening Wedge pattern and its price movement which is below the WMA (30 Shift 2) which has a downward slope and is also confirmed by the appearance of deviations between the price movement of Natural Gas commodity assets and the Stochastic Oscillator indicator on its 4-hour chart, it gives a fairly strong indication that #NG is currently in a weakening condition, but with the condition of the Stochastic Oscillator indicator which is currently below the Oversold level and is preparing to rise above level 20, it indicates that in the near future there will be a correction retracement upwards which has the potential to bring #NG to level 2,500, which is important as long as the strengthening does not break and close above level 2,658, then #NG has the potential to continue its weakening where level 2,222 will be attempted to be broken if successful then #NG will continue its weakening to level 1,967 as its main target and if momentum and volatility support then 1,575 will be the next target to be aimed at.

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