Natural Gas trades above prior resistance

Source: Dukascopy Bank SA


It was spotted on April 25 that the price for Natural Gas jumped and managed to reach above the 1.9540/2.0590 range. Moreover, it appeared that the 50-day simple moving average was passed and used as support for the push higher.

In the case of an extension of the price surge, the 2.2425/2.2840 range could impact the rate, as it acted as support and caused a surge at the end of 2023. Higher above, note the descending 200-day simple moving average near 2.4760. If all of these level fails, the commodity price might aim at the 3.0000 mark.

However, a decline of the price below the 1.9540/2.0590 range would result in the price looking for support in the 50-day simple moving average near 1.8075. Further below, the 2020 and now 2024 low levels could once again act as support near 1.5200.
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