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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 14, 2022 - 08:56
Currentrange bound
Forecastresumption of uptrend

Midterm forecast:

  • While the price is above the support 6.485, resumption of uptrend is expected.
  • We make sure when the resistance at 9.020 breaks.
  • If the support at 6.485 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 trough is formed in daily chart at 6.495 on 05/10/2022, so more gains to resistance(s) 8.176 and maximum to Major Resistance (9.020) 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 56.

Supports and Resistances:

  1. 9.020
  2. 8.176
  3. 7.458
  4. 6.485
  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