Natural Gas returns to 5.5000

Note: This section contains information in English only.
Source: Dukascopy Bank SA


In mid-January, the price for natural gas broke the resistance line of the channel down pattern, which captured the rate's decline since October. After a short retracement down, at the end of January, the commodity price started to surge. On February 2, the price rached the late November high level at 5.5000.

In the case that the price reaches above the 5.5000 mark, the price could aim at the 6.000 mark, before reaching the 2021 high level zone at 6.3210/6.4730.

Meanwhile, a decline of the price might find support in the 5.0000 level, which acted as resistance in late January. Below the 5.0000 level, take into account the support and resistance zone at 4.7250/4.8300.
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