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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 (2.890 to 2.500). 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 (2.890)
  • Ending of entry zone (2.500)

DateJanuary 21, 2023 - 13:29
Currentdowntrend
Forecastbeginning of uptrend

Midterm forecast:

  • While the price is above the support 2.500, beginning of uptrend is expected.
  • We make sure when the resistance at 5.310 breaks.
  • If the support at 2.500 is broken, the short-term forecast -beginning of uptrend- will be invalid.

Technical analysis:

  • While the RSI downtrend #1 is not broken, bearish wave in price would continue.
  • A peak is formed in daily chart at 6.910 on 12/13/2022, so more losses to support(s) 2.890 and minimum to Major Support (2.500) is expected.
  • Price is below WEMA21, if price rises more, this line can act as dynamic resistance against more gains.
  • Relative strength index (RSI) is 25.

Take Profits:

  1. 3.506
  2. 3.900
  3. 4.470
  4. 4.793
  5. 5.310
  6. 5.725
  7. 6.420
  8. 6.917
  9. 7.306
  10. 7.767
  11. 8.140
  12. 8.848
  13. 9.382
  14. 9.960
  15. 10.514
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