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Weekly forecast Natural Gas technical chart
Symbol NGAS

Trading suggestion:

  • By appearing primary signs of entering the market, new entry zone and short-term targets would be published.

DateMay 7, 2022 - 09:38
Currentrange bound
Forecastresumption of uptrend

Midterm forecast:

  • While the price is above the support 5.194, resumption of uptrend is expected.
  • We make sure when the resistance at 9.020 breaks.
  • If the support at 5.194 is broken, the short-term forecast -resumption of uptrend- will be invalid.

Technical analysis:

  • There is a divergence in RSI and price between the peak at 8.177 on 2022-04-18 and the peak at 9.019 on 2022-05-06, the probability of uptrend continuation is decreased and the probability of beginning the correction wave is increased.
  • While the RSI support #1 at 43 is not broken, the probability of price decrease would be too low.
  • A peak is formed in daily chart at 9.020 on 05/06/2022, so more losses to support(s) 7.458, 6.520, 5.835 and minimum to Major Support (5.194) 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 61.

Supports and Resistances:

  1. 9.020
  2. 8.176
  3. 7.458
  4. 6.520
  5. 5.835
  6. 5.194
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