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Today, we are excited to share some valuable insights into higher target zones in the stock market. As experts in trading and financial markets, we have identified key levels to watch for potential price movements.
Higher Target Zones Analysis
Our analysis points to the next higher target zone running from 2.52 to 2.54 in the stock market. This range includes the 50% retracement and the completion of a rising ABCD pattern. The recent improvement in bullish momentum suggests that this target zone could be reached quickly.
Notably, the wide range in trading yesterday, along with a close near the highs, indicates strong market dynamics. We are closely monitoring the rise in the 20-Day Moving Average, which is approaching a crossover with the slower 200-Day Moving Average at 2.23. This potential crossover would signal a further improvement in demand.
Looking ahead, we have identified a target zone from 2.65 to 2.67 in the stock market. This range aligns with an old trendline from the April 2023 swing low. Furthermore, the 2.65 price level represents the 127.2% extended target for the rising ABCD pattern, while 2.67 marks the completion of a 61.8% Fibonacci retracement.
Bull Breakout on Multiple Charts
Recently, natural gas experienced a bull breakout on the daily, weekly, and monthly charts. The breakout occurred above 2.30, signaling a potential upside move. This breakout also confirmed a bullish trend on the higher time frame monthly chart, indicating strong market sentiment.
As experts in the stock market and trading, we see the next monthly target at 2.60, the peak from July. This target represents a key level to watch for potential price movements.
For more insights into today’s economic events and market trends, be sure to check out our economic calendar for valuable information.
Stay connected with Extreme Investor Network for expert analysis and unique insights into the world of trading and financial markets. Happy trading!