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Trading Signals: NGC/USD
Our trading signals indicate that a strong resistance level at 2.9135 has been breached on the 30 Minutes NGC/USD chart. Based on Technical Analysis theory, we forecast a potential movement to 2.9634 within the next 7 hours.
Trading Strategy and Technical Indicators:
- We utilize a combination of moving averages and RSI (Relative Strength Index) to identify key support and resistance levels.
- The MACD (Moving Average Convergence Divergence) indicator is also used to confirm trend direction.
- Our trading strategy is based on trend-following principles, with a focus on capitalizing on short-term price movements.
Correlated Assets:
The NGC/USD pair can be correlated with other energy commodities such as crude oil and natural gas, as well as with the US Dollar index.
Economic Calendar Events:
Traders should pay attention to upcoming economic events such as inventory reports, GDP releases, and geopolitical developments that can impact the price of natural gas.
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