Natural gas Daily Technical Analysis | 18 January 2018
2018-01-18 12:50 pm | Resource: Technical Analysis Section | No Views : 364
Natural gas is trading in a major and minor ascending direction and the 20 SMA is pointing upwards and forming an important support area.
Natural gas was the target of the classical symmetrical triangle during yesterday's trading.
Momentum Relative Strength 14 is trading in a bearish direction that supports this trend. The index failed to breach the 70 area and the trading is below it.
It is expected that if natural gas breached $ 3.28, it might target $ 3.56 on the other side if it breaks 3.09 and could target $ 2.92.
Support: 3.21 - 3.06- 2.75
Resistance: 3.37 - 3.56 - 3.69
Gold rose to trade above $ 1510 an ounce, following terrorist attacks in Saudi Arabia on the Aramco factories. On Saturday, drone attacks on Saudi Arabia's largest oil processing plant sharply raised world oil prices and reinstated the specter of retaliation. The United States has accused Iran of being behind drone attacks on Saudi oil facilities. Gold prices rose higher as further interest rate cuts were expected from the…
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