Technical Analysis:
Short covering observed.
Support: 155.
Resistance: 159.9, also previous week's high.
target - 159.9 - 164
European natural gas prices surged due to a pipeline outage and concerns over the Ukraine conflict affecting energy supplies.
LNG prices rose with increased demand in Asia.
Technical Analysis: Natural gas prices bullish above 160.1, bearish below 154.5.
🔸UK natural gas futures surged to nearly 72 pence due to fears of attacks on Ukrainian storage.
🔸Oil prices at six-month highs amid Middle East tensions.
🔸Japanese LNG demand rises, intensifying global supply competition.
SENTIMENTS : Bullish🚀
Wait for 1 hour candle for confirmation.
Based on 2hr charts a close below 149 may trigger a fall to 130 .Plz check the trendlines and supports .Please take decisions on your own .This is for educational purpose only
Natural gas at multi year support zone with positive divergence on weekly timeframe nears longterm trendline resistance breakout above shall see reversal upside after considerably longtime
Technical Analysis Report
Timeframe: 1 Hour
Long Entry: Buy Natural Gas between the price range of 105.7 to 105.9.
Target Price: Aim for a target range of 152.4 to 153.
Stop Loss: Set a stop loss at 149.1.
Logic: Anticipating upward movement towards the 100-period Exponential Moving Average (EMA) and resistance at 152.4.
🔸Technical Analysis:
Support: 142
Resistance: 149.1
🔸Current Observation: Natural gas has found support at the 141.3 level.
Market News:
🔸European natural gas prices have surged to a 2024 high, driven by heightened tensions in the Middle East, supply disruptions, and forecasts of lower wind conditions.
🔸UK natural gas futures surged to a 2024 high of above 81...
natural consolidate many timed with in range now eys on 155 if stya abv or close abv thna we see 185--190+++ soon where support sl 143 if any want to buy it looks break out on daily chart
The chart is self-explanatory and shared for educational purposes.
Natural gas is currently trading within a support zone. If it reverses from this level, we may see stronger uptrends. However, if the support breaks with a clear signal, it could indicate a downtrend.
Trade with Stop-loss
🚨 Disclaimer:
This is not financial advice. Trade at your own risk. Past...
🌐Timeframe 1 Hour
📅 Date: March 20
📉 Technical Analysis: Natural gas is currently exhibiting a symmetrical triangle pattern within a narrow range on the 1-hour timeframe. This indicates indecision in the market.
📊 As per the analysis, it's prudent to wait and observe if the price continues within the triangle pattern before considering any trading decisions.
