UK GAS Long: ABC Correction Done - Uptrend Resume
SUMMARY: Long, large ABC correction played and retested the daily 50 EMA with uptrend resumption.
The price jumped on news Germany cancelled the certification process, Gas reserves in Europe remain low.
Downward pressure on Gas' climb has been offset by Oil's price decline (positive correlation) - which looks to be a temporary drop.
The price jumped on news Germany cancelled the certification process, Gas reserves in Europe remain low.
Downward pressure on Gas' climb has been offset by Oil's price decline (positive correlation) - which looks to be a temporary drop.
Note
Another UK energy company has gone bankrupt.independent.co.uk/news/business/bulb-energy-administration-bust-update-b1962107.html
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.