<p>On the daily chart below, we can
see the price is slowly approaching the major broken downward <a target=“_blank“ href=“https://www.forexlive.com/Education/technical-analysis-trendlines-20220406/“>trendline</a>. That is something the buyers
are watching and hoping for the level to hold, but the sentiment is
increasingly turning bearish. </p><p>The <a target=“_blank“ href=“https://www.forexlive.com/Education/technical-analysis-understanding-moving-averages-20220425/“>moving
averages</a> are pointing south and yesterday we got some bad news in the <a target=“_blank“ href=“https://www.forexlive.com/news/us-feb-ism-manufacturing-477-vs-480-expected-20230301/“>ISM
Manufacturing PMI</a> report where the “prices paid” sub-index jumped
back into expansion and triggered more worries about another inflationary wave
and a more hawkish Fed. For now, the market is in a “sell the rallies” mode.</p><p>In the 4
hour chart below, we can see that the price is <a target=“_blank“ href=“https://www.forexlive.com/Education/technical-analysis-understanding-divergence-20220429/“>diverging</a> with the <a target=“_blank“ href=“https://www.forexlive.com/Education/technical-analysis-understanding-macd-20220427/“>MACD</a> coming into the major trendline.
That is a sign of weaker momentum and it may be caused by the buyers fighting
hard the sellers as a breakout lower may trigger a bigger selloff. </p><p>The
moving averages have acted nicely as <a target=“_blank“ href=“https://www.forexlive.com/Education/technical-analysis-support-and-resistance-20220405/“>resistance</a> for the bearish trend and we can
expect them to continue to do so as long as the economic data keeps coming in
strong. </p><p>In the 1 hour chart below, we can
see that if we were to get a pullback, the price is likely to come back to the
trendline and the 61.8% <a target=“_blank“ href=“https://www.forexlive.com/Education/technical-analysis-using-fibonacci-retracements-20220421/“>Fibonacci
retracement</a> level. The sellers will start to pile in there as
the risk will be defined. </p><p>Tomorrow we have the <a target=“_blank“ href=“https://www.forexlive.com/EconomicCalendar“>ISM Non-Manufacturing PMI</a> report and that’s another key
economic report that the market will be focused on. Strong readings, especially
on the prices side, should lead to another selloff, while weak numbers should
give the buyers some relief and lead to a more positive sentiment. </p>

This article was written by ForexLive at www.forexlive.com.

<p>Technical uptrend shows natural gas has been ripping lately </p><p>For the past week, natural gas futures have been on a tear, climbing 35% in that time, and continuing to gain steam, currently up 32% after eight trading days. Even yet, an hourly technical analysis suggests we may be at the brink of a formation of a bearish trend.</p><p>In spite of the fact that the market is still moving upwards within a channel, a bear flag is forming and resistance is slanted in a negative direction. The bear flag’s four upward pushes and subsequent plunge near the flag’s bottom band suggest a bearish breakdown is possible, but others may disagree with this interpretation.Betting on a breakdown of the bear flag and taking a short position is warranted due to the favorable reward-to-risk ratio. channels like the one shown in the 1 hour timframe in the NG technical analysis video, can be plotted on charts to help traders decide where to place trades. Keep in mind, though, that this is just a starting point; any trades made based on it will be done so at your own risk.Those who want more evidence can wait for a probable breakdown, then wait for a retest, and then take the short position. If the retest is finished and the market starts moving down again, even to half way, the bearish trend is likely to continue.If the bearish trend persists, traders can profit by locking in a profit just above the February 28 low, moving their stop loss down, and locking in another profit after a reward-to-risk ratio of 1.35. The most recent high can be used to set a stop order, giving the short roughly a 2:1 reward-to-risk ratio on the entire position. More aspiring traders can go for more than 6.5 reward vs. risk ratios as shown in the video.All things considered, traders should keep a sharp eye on the market for signs of a bearish breakdown. As always, trade at your own risk and visit <a target=“_blank“ href=“https://www.forexlive.com/technical-analysis“>ForexLive.com technical analysis</a> for additional views.</p>

This article was written by Itai Levitan at www.forexlive.com.

<p>Market Picture</p><p>Cryptocurrency
market capitalisation fell 1.2% overnight to $1.07 trillion. This level has
been the focus of attention since Sunday, reflecting the consolidation of the
participant’s strengths. The cryptocurrency fear and greed index is back in the
50s. </p><p>Since
January, periods of greed are alternating with a neutral
sentiment, not fear.</p><p>Bitcoin
continues to find support as it falls to 23k, an impressive result amid falling
markets and a stronger dollar. The first cryptocurrency remains virtually
unchanged, effectively fighting off the strong headwinds that pushed the
Nasdaq100 back five weeks ago.</p><p>Significant
signal levels on the way down for Bitcoin appear to be around $22.7K, where the
50-day moving average and the local lows from late last week are concentrated.
If this support fails to hold, the next major stop is not expected until
$21.5K, negating February’s bullish momentum.</p><p>Ethereum is
sandwiched between resistance in the 50-week average (near $1690) and the
50-day average (near $1600). A bearish victory in this local battle could
trigger a quick pullback to $1400.</p><p>Background news</p><p>France is
set to tighten licensing rules for cryptocurrency companies. The country’s
lower house of parliament has approved a set of new regulations for the
licensing and registration of cryptocurrency companies. If the bill is passed,
the changes will take effect from July 2023.</p><p>Major
stablecoin issuers, united in the Stablecoin Standard group, have announced
work to create a common set of standards to increase consumer confidence in
digital assets.</p><p>The Gamium
blockchain project’s GMM token surged 650% after it announced a partnership
with Meta and Telefonica as part of the Metaverse Activation Programme
initiative. The joint programme between the giants aims to empower and scale
startups in the Metaverse and Web3 space.</p><p>This article was written by <a target=“_blank“ href=“https://www.fxpro.com/“ target=“_blank“ rel=“follow“>FxPro</a>’s Senior Market Analyst Alex
Kuptsikevich.</p>

This article was written by FxPro FXPro at www.forexlive.com.