Natural Gas books new high level

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


The price for natural gas hit a new high level at 9.0000. However, after hitting the high level, four days later, the price had once again returned to the support zone of the 2021 highs at 6.3225/6.4850. Afterwards, by the middle of May, the commodity price resumed its surge, as it approached the 8.0000 mark.

If the commodity price reaches above 8.0000, the rate could once again approach the resistance of the 2022 high level at 9.0000. A passing of the resistance of the 9.0000 level would highly likely result in the price hitting the 10.0000 mark.

On the other hand, a bounce off from 8.0000 is highly likely set to look for support at 7.5000 and 7.0000, prior to reaching 6.3225/6.4850. Meanwhile, take into account the approaching 50-day simple moving average near 6.6555.
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