Natural Gas Technical analysis

Note: This section contains information in English only.
Source: Dukascopy Bank SA
Natural Gas is experiencing a powerful bullish reversal within its long-term trading range, with an explosive rally bringing the price from the range support back to the range resistance in a very short time. The 4-hour chart shows a market that is fundamentally range-bound between the major resistance ceiling at $3.183 and the solid support floor at $2.680. The recent massive, impulsive rally is confirmed by the technical indicators; the price has blasted decisively above both the 24 and 100-period Simple Moving Averages, and the RSI has rocketed upwards from near oversold levels into bullish territory.



The market is now approaching a key decision point at the top of its range. A bullish breakout scenario would see this powerful momentum continue, leading to a decisive and sustained break above the $3.183 resistance, signaling an end to the consolidation.Conversely, a bearish rejection scenario would see the $3.183 resistance hold and contain the rally, keeping the price within its long-term range, likely leading to a pullback towards the moving average support zone around $2.920.

Actual Topics

Subscribe to "Fundamental Analysis" feed

Subscribe
To learn more about Dukascopy Bank CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
For further information regarding potential cooperation,
please call us or make callback request.
To learn more about Dukascopy Bank Binary Options / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
Chcete-li se dozvědět více o platformě Dukascopy Bank CFD / Forex, SWFX a dalších souvisejících obchodních informacích, prosím, zavolejte nám, nebo vám můžeme zavolat my.
To learn more about Crypto Trading / CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Business Introducer and other trading related information,
please call us or make callback request.
For further information regarding potential cooperation,
please call us or make callback request.