Natural Gas is approached by new resistance

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


By large, for most of 2023 the price for Natural Gas has fluctuated between two zones. A support zone at 2.0000 and resistance at 3.0000. During July, the price was finding support in the combination of the 2.5000 mark and the 50-day simple moving average near that level. Most recently, the 3.0000 mark was approached by the additional resistance of the 200-day SMA.

In the case of the price passing below 2.5000, the 2.0000 mark could once again be reached and act as support. Below 2.0000, take into account the 2020 low levels near 1.5200.

However, if the commodity price surges and breaks the resistance of the 3.0000 level, the 3.5000 and 4.0000 are expected to act as resistance. These levels impacted the price during its January decline.
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