Followers | 689 |
Posts | 143817 |
Boards Moderated | 35 |
Alias Born | 03/10/2004 |
Friday, August 05, 2022 12:30:14 PM
By: Christopher Lewis | August 5, 2022
• Natural gas markets have fallen a bit during the trading session on Friday, but have also found buyers near the $8.00 level.
Natural Gas Technical Analysis
Natural gas markets have fallen a bit during the trading session on Friday but then turned around to show signs of life near the $8.00 level. This obviously is a large, round, psychologically significant figure, and an area where we would have to pay close attention to. That being said, the market is still elevated, so it’ll be interesting to see whether or not we can continue to stay this positive.
Looking at this chart, if we break down below the $8.00 level, it could open up the possibility of a move down to the 50 Day EMA. Most of what we are looking at is a situation where the market is to continue looking to go higher, at least in the short term. Longer-term, it has very little chance of hanging onto these gains simply due to the fact that sooner or later demand gets destroyed.
The $9.00 level should continue to offer resistance, and eventually I think that exhaustion comes back into the market. If we break down below the 50 Day EMA, then it’s likely that the $7.00 level will be targeted next. After that, then the 200 Day EMA gets targeted near the $6.16 level.
Either way, this is a market that is going to remain very noisy and volatile, so either way, you are probably better off leaving him alone. Quite frankly, natural gas is not a retail market to say the least. However, as so many people want to trade it, the only thing I can tell you is to be very cautious with your position size, as it is one of the few things you can truly control in this chaotic environment.
Read Full Story »»»
DiscoverGold
Information posted to this board is not meant to suggest any specific action, but to point out the technical signs that can help our readers make their own specific decisions. Caveat emptor!
• DiscoverGold
VHAI - Vocodia Partners with Leading Political Super PACs to Revolutionize Fundraising Efforts • VHAI • Sep 19, 2024 11:48 AM
Dear Cashmere Group Holding Co. AKA Swifty Global Signs Binding Letter of Intent to be Acquired by Signing Day Sports • DRCR • Sep 19, 2024 10:26 AM
HealthLynked Launches Virtual Urgent Care Through Partnership with Lyric Health. • HLYK • Sep 19, 2024 8:00 AM
Element79 Gold Corp. Appoints Kevin Arias as Advisor to the Board of Directors, Strengthening Strategic Leadership • ELMGF • Sep 18, 2024 10:29 AM
Mawson Finland Limited Further Expands the Known Mineralized Zones at Rajapalot: Palokas step-out drills 7 metres @ 9.1 g/t gold & 706 ppm cobalt • MFL • Sep 17, 2024 9:02 AM
PickleJar Announces Integration With OptCulture to Deliver Holistic Fan Experiences at Venue Point of Sale • PKLE • Sep 17, 2024 8:00 AM