NATURAL GAS POSSIBLE RALLY
Natural gas is increasing in value due to several factors: the unprecedented wildfires in Canada that are ravaging the country and are disrupting the production throughout the province of Alberta; Reuters also reports that Russian pipeline exports had declined 11.4% this month compared to April’s average, putting an additional hold to the fuel supply.
The RSI is above 50. The MACD had broken above its zero level and had triggered signal for further potential gains.
If the current trend continues, the price might test resistance levels of 2.764, and if it gets broken, further target might be 2.931.
In the opposite scenario, the price might test its previous resistance at 2.025.
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.
The RSI is above 50. The MACD had broken above its zero level and had triggered signal for further potential gains.
If the current trend continues, the price might test resistance levels of 2.764, and if it gets broken, further target might be 2.931.
In the opposite scenario, the price might test its previous resistance at 2.025.
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.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.