price histogram : total volume & delta
tf histogram : total volume & delta
The first target is fulfilled. namely, the recent gap has been closed and aggressive buyers are slowly coming back. If Friday will be traded with outweighing on the side of the buyer – from Monday it will be possible to look for an entry point to buy.
A little clarification – now it is relevant to analyze the Henry Hub Natural Gas FEB23 of February. January one is not so interesting for big players.
As for the current situation – after the price returns to the 6.50 – 7 level, where the resistance level was formed back in late November. If the buyers do not let the price below 6 before Monday and the buying aggressors will continue to keep control of the price. It would be prudent to open trades with them.
With increased demand due to weather and geopolitics – such a scenario ( rise ) may well be possible.
Support and resistance ranges are marked on the slide above. But let me remind you that these are the levels for the February contract.
Author & trader: Mikhail Lemah