Natural Gas reaches 10.00 mark

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


The price for Natural Gas recently reached above the previous 2022 high level zone above 9.50 and reached the 10.00 mark, which has acted as resistance. Meanwhile, it has been spotted that the commodity price has been surging in a channel up pattern.

A potential decline of the commodity price is expected to look for support in the 9.00 mark and the lower trend line of the channel up pattern. If the pattern is broken, the 8.50 level could act as support, before the price reaches the 50-day simple moving average and the 8.00 level.

However, a resumption of the surge might encounter resistance in the 9.50 level, prior to reaching the 10.00 mark. Above the 10.00 level, other round levels could slow down a surge.
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