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$NG : Bullish Consolidation Near Local Highs
The price of Natural Gas ($NG) is currently trading at $3.133, showing a steady daily gain of +0.35%. On the 1-hour chart, the commodity is in a clear upward trend, characterized by higher lows and consistent pressure on the resistance zone.
Long $NG
Entry Zone: $3.110 – $3.135
Stop Loss (SL): $3.070
Target 1 (TP1): $3.180
Target 2 (TP2): $3.250
Target 3 (TP3): $3.350
Market Analysis
$NG is showing strong technical resilience. After a sharp rally earlier in the session, the price has entered a consolidation phase between $3.110 and its 24h high of $3.150. This sideways movement near the top of a trend often suggests that bulls are gathering strength for a potential breakout.
The 24h turnover is sitting at $3.35M, with a 24h low established at $3.087. Currently, $NG is trading above the median line of its recent range, indicating that the momentum favor the buyers. A decisive hourly close above the $3.150 resistance would likely trigger a rapid move toward the $3.20+ levels.
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