🐂 Not all bull runs are created equal. November’s AI picks include 5 stocks up +20% eachUnlock Stocks

Nat Gas: Outlook Negative

Published 12/18/2013, 06:11 AM
Updated 07/09/2023, 06:31 AM
NG
-

Nat Gas Technicals
Natural Gas hit good support and our first weekly target at 4203/4193 and saw a low for the day as predicted. We bottomed exactly here to reach the 4320/25 target and topped exactly here. We could continue higher today as far as 4347/52. This should hold a move higher but shorts need stops above 4370 for a selling opportunity at 4395/00.

Failure to beat 4320/25 however keeps the market under pressure for 4290 then 4255/50. Below here risks a retest of 4200/4195. A low for the day possible again but longs need stops below 4170. Next support seen at 4135/30.

Weekly outlook is negative and we should have ended the 4 month rally on Friday. Targets are 4195 then 4140/30 which could hold the downside this week. However if we continue lower look for 4040.

Latest comments

Loading next article…
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.