Weekly NGAS Technical Analysis and Forecast - Commodities - Forecast City

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Weekly forecast		Natural Gas technical chart
Symbol	NGAS	Download MT4 template file Trading suggestion: There is possibility of temporary retracement to suggested Trend Hunter Buy Zone (1.650 to 1.550). We wait during the retracement, until the price tests the zone, whether approaching, touching or entering the zone. While the price is below the level 1.80, the probability of beginning of uptrend is too weak, so we would enter the market with buy trades based on Daily-Trading-Opportunities and a day close price above 1.80 and expect to reach short-term targets. Beginning of entry zone (1.650) Support on 02/28/2020 Support on 03/09/2020 Support on 03/18/2020 Support on 03/19/2020 Support on 03/24/2020 Resistance on 04/02/2020 Support on 06/24/2020 Ending of entry zone (1.550)
Date	July 4, 2020 - 13:19
Current	range bound
Forecast	beginning of uptrend
Midterm forecast: While the price is above the support 1.400, beginning of uptrend is expected. We make sure when the resistance at 1.800 breaks. If the support at 1.400 is broken, the short-term forecast -beginning of uptrend- will be invalid. Technical analysis: The RSI bounced from the support #1 at 30 and it prevented price from more losses. While the RSI downtrend #2 is not broken, bearish wave in price would continue. A trough is formed in daily chart at 1.525 on 06/25/2020, so more gains maximum to Major Resistance (1.800) is expected. Price is above WEMA21, if price drops more, this line can act as dynamic support against more losses. Relative strength index (RSI) is 51. Take Profits: 1.900 Resistance on 06/05/2020 Resistance on 06/03/2020 Resistance on 05/28/2020 Resistance on 05/25/2020 Support on 05/20/2020 Resistance on 05/15/2020 Resistance on 05/14/2020 Resistance on 05/13/2020 Support on 04/30/2020 Support on 04/27/2020 Support on 04/20/2020 Resistance on 04/17/2020 Resistance on 04/13/2020 Resistance on 04/09/2020 Support on 03/11/2020 Support on 02/21/2020 Resistance on 02/07/2020 Resistance on 02/06/2020 Resistance on 02/04/2020 Resistance on 01/30/2020 Support on 01/23/2020 2.000 Resistance on 05/27/2020 Resistance on 05/20/2020 Resistance on 05/19/2020 Resistance on 05/18/2020 Support on 05/11/2020 Resistance on 04/24/2020 Resistance on 03/11/2020 Resistance on 02/20/2020 Resistance on 04/11/2016 Resistance on 03/18/2016 Resistance on 03/17/2016 Support on 02/12/2016 Support on 02/04/2016 Resistance on 12/22/2015 Resistance on 12/21/2015 Support on 12/11/2015 2.100 Resistance on 05/07/2020 Support on 05/05/2020 Resistance on 05/04/2020 Resistance on 05/01/2020 Resistance on 04/23/2020 Resistance on 04/21/2020 Resistance on 01/16/2020 Support on 01/09/2020 Support on 01/08/2020 Support on 01/07/2020 Support on 01/03/2020 Support on 01/02/2020 Support on 08/13/2019 Support on 08/12/2019 Support on 08/09/2019 Support on 08/02/2019 Support on 07/30/2019 Support on 07/29/2019 Support on 05/19/2016 Support on 05/02/2016 Support on 04/29/2016 Support on 04/28/2016 Resistance on 04/13/2016 Resistance on 04/04/2016 Resistance on 02/04/2016 Support on 01/25/2016 Support on 01/21/2016 Support on 01/20/2016 Support on 01/19/2016 Support on 01/15/2016 Resistance on 12/24/2015 Resistance on 12/10/2015 Support on 12/08/2015 Support on 12/07/2015 2.250 Resistance on 05/05/2020 Support on 12/19/2019 Support on 12/18/2019 Support on 12/13/2019 Support on 11/29/2019 Resistance on 08/28/2019 Resistance on 08/27/2019 Resistance on 08/26/2019 Resistance on 08/15/2019 Resistance on 08/01/2019 Resistance on 07/31/2019 Support on 07/18/2019 Support on 07/05/2019 Support on 07/04/2019 Support on 07/01/2019 Support on 06/27/2019 Support on 06/26/2019 Support on 06/19/2019 Resistance on 05/23/2016 Resistance on 05/13/2016 Resistance on 05/10/2016 Resistance on 05/05/2016 Resistance on 04/29/2016 Resistance on 02/01/2016 Resistance on 01/28/2016 Support on 01/12/2016 Support on 01/06/2016 Support on 01/04/2016 Support on 12/30/2015 Resistance on 12/02/2015 Resistance on 12/01/2015 Resistance on 11/30/2015 Support on 11/26/2015 Support on 11/23/2015 Support on 10/30/2015 2.500 Support on 11/26/2019 Resistance on 10/25/2019 Resistance on 10/21/2019 Resistance on 10/17/2019 Resistance on 10/16/2019 Resistance on 10/15/2019 Support on 09/25/2019 Resistance on 09/05/2019 2.700 Resistance on 11/22/2019 Resistance on 11/18/2019 Resistance on 10/29/2019 Resistance on 09/18/2019 Resistance on 05/21/2019 Resistance on 05/20/2019 Resistance on 05/17/2019 Resistance on 05/15/2019 Resistance on 05/14/2019 Resistance on 04/15/2019 Resistance on 04/05/2019 Resistance on 04/04/2019 Support on 04/02/2019 Support on 03/27/2019 Resistance on 02/20/2019 Resistance on 02/19/2019 Resistance on 02/12/2019 Resistance on 02/11/2019 Support on 02/01/2019 Support on 07/17/2018 Support on 05/07/2018 Support on 04/20/2018 Support on 04/19/2018 Support on 04/13/2018 Support on 04/09/2018 Support on 04/06/2018 Support on 04/05/2018 Support on 04/04/2018 Resistance on 03/22/2018 Support on 03/16/2018 Support on 03/15/2018 Support on 03/05/2018 Support on 03/02/2018 Resistance on 02/28/2018 Resistance on 02/27/2018 Resistance on 02/26/2018 Resistance on 02/22/2018 Resistance on 02/21/2018 Resistance on 02/09/2018 Support on 02/06/2018 Resistance on 12/15/2017 Support on 12/13/2017 Support on 02/28/2017 Support on 02/23/2017 Support on 02/22/2017 Support on 11/10/2016 Support on 11/09/2016 Support on 11/08/2016 Resistance on 08/22/2016 Resistance on 08/19/2016 Resistance on 08/18/2016 Support on 07/25/2016 Resistance on 07/20/2016 Support on 07/15/2016 Support on 07/14/2016 Support on 07/13/2016 Support on 07/06/2016 Support on 06/20/2016 Resistance on 10/14/2015 Resistance on 10/13/2015 Resistance on 10/12/2015 Resistance on 09/25/2015 Resistance on 09/24/2015 Support on 09/17/2015 Support on 09/11/2015 Support on 09/10/2015 Support on 09/09/2015 Support on 09/04/2015 Support on 09/01/2015 Support on 08/26/2015 Support on 08/25/2015 Support on 08/21/2015 Support on 08/18/2015 Support on 08/03/2015 Support on 07/31/2015 Support on 07/07/2015 Support on 06/09/2015 Support on 05/28/2015 Support on 05/07/2015 Resistance on 04/17/2015 Resistance on 04/16/2015 Resistance on 04/07/2015 Resistance on 04/06/2015 Resistance on 04/02/2015 Support on 03/23/2015 Support on 03/16/2015 Support on 03/13/2015 Support on 03/11/2015 Support on 03/10/2015 Support on 03/09/2015 Support on 03/04/2015 Support on 02/27/2015 Support on 02/13/2015 Support on 02/12/2015 Resistance on 02/10/2015 Resistance on 02/05/2015 Support on 01/29/2015 Support on 08/31/2012 Resistance on 08/29/2012 Resistance on 08/28/2012 Support on 07/17/2012 2.950 3.650 Resistance on 12/21/2018 Resistance on 12/20/2018 Resistance on 12/17/2018 Click on the level to view price action history.

Symbol	Released	Current	Forecast
Natural Gas (NGAS)	Sat, 13 Apr 2024
Natural Gas (NGAS)	Sat, 6 Apr 2024
Natural Gas (NGAS)	Wed, 3 Apr 2024
Natural Gas (NGAS)	Sat, 30 Mar 2024
Natural Gas (NGAS)	Sat, 23 Mar 2024