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Natural gas Daily Technical Analysis | 18 January 2018

2018-01-18 12:50 pm | Resource: Technical Analysis Section | No Views : 364

The natural gas traded in the USD broke through the 4-hour downtrend line during yesterday's trading, as a result of bull pressure on the gas, which led to a breach of the resistance level of 3.21 $.
Natural gas Daily Technical Analysis | 18 January 2018

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
Trend: Up

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