This is a 4-hour Natural Gas Futures chart, and the structure is quite interesting.
📊 What the chart is showing
* Current price: ~316.2
* Major resistance: 318–320
* Price has rallied strongly from around 270 and is now retesting the previous swing high near 318–320.
* The green rising trendlines show that the medium-term structure is still bullish.
* However, price is now at a very important resistance zone.
🔴 The key area: 318–320
The previous high was around 318–319, and the current price has again reached this area.
So there are two possibilities:
1. Breakout above 320
* A strong 4H candle closing above 320 would invalidate the immediate bearish-reversal idea.
* Potential upside could then be 324 → 330 → 335+, depending on momentum.
2. Rejection from 318–320
This is what your large downward arrow is anticipating.
Possible downside levels:
Level Importance
312–310 Immediate support
304–300 First meaningful retracement
296 Important support
288–286 Previous swing/support
275–270 Major trend support
264 Deep bearish target shown on your chart
🟢 But there is an important point
The overall 4H structure has not yet turned bearish.
Price is making a sequence roughly like:
270 → 290 → 285 → 300 → 318
and the rising trendline is still intact.
Therefore, I would not consider 264 confirmed as a target yet. It becomes a much more realistic target only if the market first breaks the important supports around 304/296/288 and eventually loses the rising structure.
🔥 My reading of this chart
Right now I would classify it as:
4H TREND: BULLISH
RESISTANCE: 318–320
REVERSAL RISK: HIGH
BREAKOUT LEVEL: 320+
BEARISH CONFIRMATION: Below ~304/300
Major bearish target: 288 → 270 → 264
The most important candle to watch is the 4H candle around 318–320. A rejection with a long upper wick followed by a break of 312/304 would give considerably stronger evidence for the downward move you have drawn.
📊 What the chart is showing
* Current price: ~316.2
* Major resistance: 318–320
* Price has rallied strongly from around 270 and is now retesting the previous swing high near 318–320.
* The green rising trendlines show that the medium-term structure is still bullish.
* However, price is now at a very important resistance zone.
🔴 The key area: 318–320
The previous high was around 318–319, and the current price has again reached this area.
So there are two possibilities:
1. Breakout above 320
* A strong 4H candle closing above 320 would invalidate the immediate bearish-reversal idea.
* Potential upside could then be 324 → 330 → 335+, depending on momentum.
2. Rejection from 318–320
This is what your large downward arrow is anticipating.
Possible downside levels:
Level Importance
312–310 Immediate support
304–300 First meaningful retracement
296 Important support
288–286 Previous swing/support
275–270 Major trend support
264 Deep bearish target shown on your chart
🟢 But there is an important point
The overall 4H structure has not yet turned bearish.
Price is making a sequence roughly like:
270 → 290 → 285 → 300 → 318
and the rising trendline is still intact.
Therefore, I would not consider 264 confirmed as a target yet. It becomes a much more realistic target only if the market first breaks the important supports around 304/296/288 and eventually loses the rising structure.
🔥 My reading of this chart
Right now I would classify it as:
4H TREND: BULLISH
RESISTANCE: 318–320
REVERSAL RISK: HIGH
BREAKOUT LEVEL: 320+
BEARISH CONFIRMATION: Below ~304/300
Major bearish target: 288 → 270 → 264
The most important candle to watch is the 4H candle around 318–320. A rejection with a long upper wick followed by a break of 312/304 would give considerably stronger evidence for the downward move you have drawn.
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免責事項
これらの情報および投稿は、TradingViewが提供または承認する金融、投資、取引、またはその他の種類の助言もしくは推奨であることを意図したものではなく、またこれらに該当するものでもありません。詳細は利用規約をご覧ください。