Natural gas Technical analysis

Source: Dukascopy Bank SA
Natural Gas price is below two important moving averages — the 24-period purple line and the 100-period red line. The faster 24 SMA is below the slower 100 SMA, which shows strong downward momentum. These moving averages are also acting as resistance, with the 100 SMA near 3.2419. The RSI is around 37.58, which is below the neutral 50 level, confirming the bears are in control. It is not oversold yet, but the momentum is weak.



Key resistance levels are around 3.1830 and a stronger one at 3.2800. Above that, a major resistance is near 3.5200. On the downside, support is at 2.9200 — the price bounced here before. If it breaks below 2.9200, the next support is at 2.7800. Right now, the price is trying to bounce but still below the 24 SMA. For a bullish reversal, the price must break above the 24 SMA and then 3.2800. But overall, the trend points down, and any upward moves are likely just short-term corrections. If the 2.9200 support fails, the downtrend will likely continue.

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