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Natural gas Daily Technical Analysis | 2 January 2018

2018-01-02 10:22 am | Resource: Technical Analysis Section | No Views : 296

We noted earlier that natural gas breached in green US currency for the bearish trend line on the time interval 240 minutes during the trading last Wednesday and during the weekend, the gas broke through the areas of 2.762 and continued to climb up to the areas of 3.06.

Natural gas Daily Technical Analysis | 2 January 2018

The gas is trading in a bullish direction under formation, and the SMA 20 is bullish and forms a very important support area for gas.
Momentum Relative Strength 14 breached the bearish trend line at the end of last week's trading and so far is trading in a bullish direction and the 70 level indicates the bull's control over the gas.
It is expected that if natural gas breached 3.077, it might target 3.15 on the other side, if a break of 2.916 might target the $ 2.752 level.
Support: 2.88 - 2.75 - 2.64
Resistance: 3.07 - 3.15 - 3.21
Trend: Up


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