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💡NGAS (NAT.GAS) - Weekly Technical Analysis Update

Midterm forecast:

While the price is above the support 5.194, resumption of uptrend is expected.
We make sure when the resistance at 8.176 breaks.
If the support at 5.194 is broken, the short-term forecast -resumption of uptrend- will be invalid.

Technical analysis:

While the RSI support #1 at 43 is not broken, the probability of price decrease would be too low.
A trough is formed in daily chart at 6.485 on 04/25/2022, so more gains to resistance(s) 7.458 and maximum to Major Resistance (8.176) is expected.
Price is above WEMA21, if price drops more, this line can act as dynamic support against more losses.
Relative strength index ( RSI ) is 61.

Supports and Resistances:

8.827
8.176
7.458
6.520
5.835
5.194

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