Followers | 679 |
Posts | 140771 |
Boards Moderated | 36 |
Alias Born | 03/10/2004 |
Thursday, December 01, 2022 12:20:00 PM
By: Christopher Lewis | December 1, 2022
• The natural gas markets have bounced from the 50-Day EMA to kick off the trading session on Thursday as we continue to consolidate overall.
Natural Gas Technical Analysis
Natural gas markets have bounced a bit during the trading session on Thursday, as we continue to see a lot of questions asked about the demand for energy, and of course the temperatures in the United States. Ultimately, I think we are simply chopping around in a larger vicinity, with the 50-Day EMA sitting just underneath and offering support, followed very closely by the 200-Day EMA. On the other hand, we have the $08.00 level above offering resistance, so that obviously could come into the fray as well.
In the meantime, I would anticipate that this is a market that will probably be very noisy, trying to find some type of directionality. With this being said, the market is likely to continue looking through the prism of the weekly weather reports, which of course makes it very difficult for the retail trader to trade.
On the other hand, if we break down below the 200-Day EMA underneath, then it’s possible that we could go down to the $6.15 level, but if we break above the negative candlestick from the Wednesday session, then we could make a move toward the $7.75 level. After that, we could go looking to the $8.00 level.
Looking at this chart, I think you have to be very nimble in this market, because quite frankly it’s only going to get more and more volatile. You could make an argument for a short-term trendline that is sitting just below, so one would think that we are probably ready for a bounce, but if we do not get it, then we could go racing lower.
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
FEATURED Cannabix Technologies to Present Marijuana Breathalyzer Technology at International Association for Chemical Testing (IACT) Conference in California • Apr 22, 2024 8:49 AM
Epazz, Inc.: CryObo, Inc. solar Bitcoin operations will issue tokens • EPAZ • Apr 23, 2024 9:20 AM
Avant Technologies Launches Advanced AI Supercomputing Network and Expansive Data Solutions • AVAI • Apr 23, 2024 8:00 AM
BestGrowthStocks.com Issues Comprehensive Analysis of Triller Merger with AGBA Group Holding Limited • AGBA • Apr 22, 2024 1:00 PM
Kona Gold Beverages, Inc. Prepares for First Production Run Set to Launch May 17, 2024 • KGKG • Apr 22, 2024 8:30 AM
VPR Brands LP Reports Record Annual Financial Performance for Fiscal Year 2023 • VPRB • Apr 19, 2024 11:24 AM