Natural Gas, continuation (F8), NewYork : Indecision reigns
- Opinion Short Term Negative
- Resistance 1 3.55USD
- Support 1 2.71USD
- Opinion Mid Term Bullish
- Support 2 2.52USD
- Resistance 2 3.74USD
Below 3.74 USD the Natural Gas, continuation (F8), NewYork is evolving toward 2.71 USD over the short term. The clearing of 3.74 USD would invalidate this opinion and open the door for 3.83 USD.
The MACD is positive but lower than its signal line. The dynamic in progress has been interrupted. If the MACD were to turn negative, the price correction could continue. Powerful indicators like the RSI, are not giving us any particular indications in the short term. The Stochastics indicators are not giving any clear signals for the coming days. The volumes traded are more than the average volumes over the last 10 days.
MOVEMENTS AND LEVELS
After a recent high at 3.21 USD the commodity corrected towards the 50-day moving average 2.99: the price reaction on this level allows us to envisage a continuation of this movement in the medium term. The first buy points (or short-term supports) are at 2.71 USD and 2.52 USD. The resistances are at 3.55 USD and 3.74 USD.