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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 (1.745 to 1.580). 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 (1.745)
  • Ending of entry zone (1.580)

DateJune 8, 2024 - 13:22
Currentuptrend
Forecastcontinuation of uptrend

Midterm forecast:

  • While the price is above the support 2.529, continuation of uptrend is expected.
  • We make sure when the resistance at 3.140 breaks.
  • If the support at 2.529 is broken, the short-term forecast -continuation of uptrend- will be invalid.

Technical analysis:

  • While the RSI support #1 at 47 is not broken, the probability of price decrease would be too low.
  • A trough is formed in daily chart at 2.530 on 05/31/2024, so more gains to resistance(s) 3.000 and maximum to Major Resistance (3.140) 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 65.

Take Profits:

  1. 2.026
  2. 2.228
  3. 2.529
  4. 2.735
  5. 3.000
  6. 3.140
  7. 3.440
  8. 3.705
  9. 10.514
Click on the level to view price action history.

Symbol Released Current Forecast
Natural Gas (NGAS) free Sat, 15 Jun 2024
Natural Gas (NGAS) free Sat, 8 Jun 2024
Natural Gas (NGAS) free Sat, 1 Jun 2024
Natural Gas (NGAS) free Sat, 25 May 2024
Natural Gas (NGAS) Sat, 25 May 2024