Wednesday , April 8 2020
Home / canada / Future of Natural Gas Prices (NG) Technical Analysis – Gap Falls in the Weekly Chart Seriously Damages Bull Market Outlook

Future of Natural Gas Prices (NG) Technical Analysis – Gap Falls in the Weekly Chart Seriously Damages Bull Market Outlook

The natural gas futures were lower on Sunday, at weekends the temperature was lower and the demand for heating decreased. All eyes are forecast for the next weekend weather and may have some cold temperatures. Although it is possible to see some rally linked to short-time cold frames, there is nothing in the current forecasts of expectations of persistent cold systems, so the odds of a long race are low.

At 0127 GMT, March Gas Natural distributes $ 3,117 to $ 0.186 or -5.63.

Daily march Natural gas

NatGasWeather says: "January 1-3, January 1, there will be still a cold chill, but it will continue to be hotter and more durable from January 4th to 4th, and the warming demand has been lost since the beginning of the Week."

He said: "Once again, in the second week of January, the second week of January, Canadian air might be very cold, but the cold of Canada is not cold in the United States, and the southern sentiment would be the highest sentiment."

First of all, the cold air in Canada parked must be in the U.S. Secondly, only the key requirements of the Midwest and East Coast will be parks. Prices are likely to continue until it's more common in cold weather weather schedules.

Weekly Swing table Technical analysis

The main trend is based on the calendar of the week of natural gas in March. The main trend will go down in the nearest commercial swing lower, at $ 2,890.

The main range ranges from $ 2,810 to $ 4,608. Trading under the market pace is $ 3,497 and $ 3,709. The rector's area is a new resistance.

Swing table per week. Technical Announcement

The downside of the weekly table is creating a great deal of pressure from October. If you continue, I will see the next two major fund test in the $ 2,890 and $ 2,810 short term. Future contracts are at least $ 2,715 from February 23, 2016.

Gap's presentation will be the first sign of renewal of force, although it has a brief coverage. The purchase of the next purchase will be greater at 3.48 thousand dollars a week.

Daily natural gas nearby

If you listed future nearby tables, then the main trend was previously disbanded, the sellers lowered the bottom of the previous rocket $ 3,136. If this leads to a slight boost, the main discount would be between 2,813 and 2,748 of 2018.

In essence, we are looking for a weak market this week to allow buyers to have a larger market and return a week's closure to put it on the bottom to send it.

Source link