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Weekly forecast Natural Gas technical chart
Symbol NGAS

Trading suggestion:

There is possibility of temporary retracement to suggested Trend Hunter Buy Zone (2.396 to 2.203). We wait during the retracement, until the price tests the zone, whether approaching, touching or entering the zone.

We would set buy orders based on Daily-Trading-Opportunities and expect to reach short-term targets.

  • Beginning of entry zone (2.396)
  • Ending of entry zone (2.203)

DateJanuary 15, 2022 - 09:41
Currentrange bound
Forecastresumption of downtrend

Midterm forecast:

  • While the price is below the resistance 4.768, resumption of downtrend is expected.
  • We make sure when the support at 3.434 breaks.
  • If the resistance at 4.768 is broken, the short-term forecast -resumption of downtrend- will be invalid.

Technical analysis:

  • The RSI resistance #1 at 55 is broken, so the probability of resumption of downtrend is decreased.
  • A trough is formed in daily chart at 3.490 on 12/30/2021, so more gains to resistance(s) 4.160, 4.760 and maximum to Major Resistance (4.768) 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. 2.600
  2. 2.750
  3. 2.900
  4. 3.150
  5. 3.434
  6. 3.620
  7. 4.160
Click on the level to view price action history.

Symbol Released Current Forecast
Natural Gas (NGAS) Sat, 23 Mar 2024
Natural Gas (NGAS) Sat, 16 Mar 2024
Natural Gas (NGAS) Sat, 9 Mar 2024
Natural Gas (NGAS) Sat, 2 Mar 2024
Natural Gas (NGAS) Sat, 24 Feb 2024