NGZ5: Bullish Weekly Momentum Building – Watching for Daily Alignment

Overview

NGZ5 – Bullish Technical Outlook

Weekly Chart Overview

• Three consecutive weekly closes below the lower Bollinger Band → followed by a sharp reversal higher at the end of August.

• Two additional bullish reversal bars formed in September, confirming underlying strength.

• Bullish weekly divergence noted on the new low in mid-October, signaling potential trend exhaustion on the downside.

• Momentum continues to move higher, supporting the case for a medium-term bullish setup.

Daily Chart Overview

• Range-bound price action since the end of July.

• Expect sideways consolidation while overbought conditions work themselves out.

• Ideally, a temporary impulsive move lower toward the lower Bollinger Band / bottom of the range could provide a buying opportunity.

• Look for daily momentum to turn higher and align with bullish weekly momentum—this alignment could trigger a breakout to the upside.

Key Technical Levels

• Topside Fibonacci Zones (retracement levels):

  • 38.2% Fib: 4.421 → likely area for CTA stops.

  • 50% Fib: 4.676

  • 61.8% Fib: 4.931

Summary

• Weekly structure and momentum are bullish.

• Daily structure suggests near-term consolidation or a shallow pullback before the next leg higher.

• Watch for momentum alignment across timeframes to confirm the next upside impulse toward the 4.42–4.93 zone.

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