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Natural Gas Daily Technical Analysis | 12 January 2018

2018-01-12 10:59 am | Resource: Technical Analysis Section | No Views : 305

The natural gas broke through the minor descending trend line on the 4 hour timeframe as a result of bull pressure on the commodity and before the US session ended yesterday the gas breached the areas of 3.06, confirming the breach of the bearish trend line.

Natural Gas Daily Technical Analysis | 12 January 2018

The stock is trading in a bullish direction and the SMA 20 is pointing upwards.
Momentum RSI 14 is still trading in a bullish direction in formation as it broke through the bearish trend line during the European session yesterday.
It is expected that if natural gas breached $ 3.15, it could target $ 3.21 while a break of 3.09 or a break of 3.15 could target $ 2.91.
Support: 2.75 - 2.64 - 2.519
Resistance: 3.15 - 3.21 - 3.37
Trend: Up


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