NATURAL GAS have shown bullish movement, despite the unusual weather in the beginning of June. Several factors are determining the price movement, most significantly of which is the debt ceiling suspension. It might still influence the price of the commodity until Fed announces its final decision.
On a technical note, the instrument it’s with bullish tendencies, since the last low of 2.177 is above the previous low of 2.065. The MACD histogram, although still below 0, is rising and the fast moving average is crossing the slow moving average. Same with the RSI indicator, where the slow moving average is moving above the 50 neutral line.
If the current movement continues, the price might target prices of 2.36. In the opposite scenario, if the price falls below 2.242, it might reach the support of 2.193
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On a technical note, the instrument it’s with bullish tendencies, since the last low of 2.177 is above the previous low of 2.065. The MACD histogram, although still below 0, is rising and the fast moving average is crossing the slow moving average. Same with the RSI indicator, where the slow moving average is moving above the 50 neutral line.
If the current movement continues, the price might target prices of 2.36. In the opposite scenario, if the price falls below 2.242, it might reach the support of 2.193
Risk Disclosure: Trading Foreign Exchange (Forex) and Contracts of Difference (CFD's) carries a high level of risk. By registering and signing up, any client affirms their understanding of their own personal accountability for all transactions performed within their account and recognizes the risks associated with trading on such markets and on such sites. Furthermore, one understands that the company carries zero influence over transactions, markets, and trading signals, therefore, cannot be held liable nor guarantee any profits or losses.