Volume-based outlook using VSA methodology and key price levels
🕐 Daily Timeframe (D1):
The April 28 daily bar formed a bullish Wide spread bar on high volume. However, price is now approaching a key resistance zone at 3.4714, where sellers previously showed control.
🕐 Hourly Timeframe (H1):
On the M60 chart, we’re seeing the development of an ascending channel.
Just like on the daily, there’s also a bullish wide-spread bar with high volume, signaling the presence of a strong buyer in the market.
However, we haven’t seen a test of that buying effort yet — I'm marking 3.2556 as a likely test zone.
If price breaks and consolidates above the daily level 3.3714 today, this would confirm buyer strength and open the way toward a breakout above the recent swing high at 3.4501.
If the market closes below 3.3714 today, watch for price action near the 3.2556 test level:
If buyers hold 3.2556 → potential targets:
-3.3714 (retest)
-3.4501 (swing high)
If 3.2556 fails and price consolidates below → watch for a deeper move toward:
-Lower boundary of the current range
-Low of the bullish effort bar at 3.0785
Disclaimer: This content is for educational purposes only and does not constitute financial advice.
#TechnicalAnalysis #DayTrading #VSA #NG #HenryHub #NaturalGas #FuturesTrading #VolumeSpreadAnalysis
🕐 Daily Timeframe (D1):
The April 28 daily bar formed a bullish Wide spread bar on high volume. However, price is now approaching a key resistance zone at 3.4714, where sellers previously showed control.
🕐 Hourly Timeframe (H1):
On the M60 chart, we’re seeing the development of an ascending channel.
Just like on the daily, there’s also a bullish wide-spread bar with high volume, signaling the presence of a strong buyer in the market.
However, we haven’t seen a test of that buying effort yet — I'm marking 3.2556 as a likely test zone.
If price breaks and consolidates above the daily level 3.3714 today, this would confirm buyer strength and open the way toward a breakout above the recent swing high at 3.4501.
If the market closes below 3.3714 today, watch for price action near the 3.2556 test level:
If buyers hold 3.2556 → potential targets:
-3.3714 (retest)
-3.4501 (swing high)
If 3.2556 fails and price consolidates below → watch for a deeper move toward:
-Lower boundary of the current range
-Low of the bullish effort bar at 3.0785
Disclaimer: This content is for educational purposes only and does not constitute financial advice.
#TechnicalAnalysis #DayTrading #VSA #NG #HenryHub #NaturalGas #FuturesTrading #VolumeSpreadAnalysis
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