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Natural Gas Futures (NG1!), H1 Potential for Bullish Bounce

38029 natural gas futures ng1 h1 potential for bullish bounce

Type: Bullish BounceKey Levels:Resistance: 6.607Pivot: 6.260Support: 6.013Preferred Case:Price is moving nearer to the pivot level. We are expecting the price to potentially bounce off from our pivot level of 6.260 in line with 61.8% Fibonacci projection and -27.2% Fibonacci expansion towards our 1st resistance level of 6.607 which is in line with 38.2% Fibonacci retracement and 61.8% Fibonacci projection.Alternative Scenario:Otherwise, the price might break our pivot structure and trigger a dip to the 1st support level of 6.013 in line with the 78.6% Fibonacci projection and -61.8% Fibonacci expansion.Fundamentals:No major news.

Source: Tickmill

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