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Natural Gas Daily Technical Analysis | 16 January 2018

2018-01-16 09:58 am | Resource: Technical Analysis Section | No Views : 359

Natural gas gas breached the resistance level at 3.15 and $ 3.21 during last week's trading and currently our neutral outlook is trading at 3.21 to 3.09 areas.

Natural Gas Daily Technical Analysis | 16 January 2018
 
Natural gas is trading in a major bullish trend and the 20 SMA represents a support area.
The gas crossed the upper boundary of the symmetrical triangle pattern on the 240-minute interval during last Thursday's trading so far has not achieved the target of the model
Momentum Relative Strength 14 Break the lower border of the symmetrical triangle pattern during today's trading but without confirmation.
It is expected that if natural gas breached $ 3.15, it might target $ 3.28, but if it breaks 3.06 or target $ 2.82.
Support: 2.75 - 2.64 - 2.519
Resistance: 3.15 - 3.21 - 3.37
Trend: neutral


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