NATURAL GAS

- USD (-)

- 10 min delayed data - NYMEX Futures

Open:	-
Change:	-
Volume:	-

Low:	-
High:	-
High / Low range:	-

Type:	Commodities
Ticker:	NG
ISIN:

NATURAL GAS - 1H - Technical analysis published on 05/20/2024 (GMT)

Londinia

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Timeframe : 1H
- Analysis generated on
Status : TARGET REACHED

Summary of the analysis

Trends

Short term: Strongly bullish

Underlying: Strongly bullish

Technical indicators

72%

22%

My opinion

Bullish above 2.498 USD

My targets

2.757 USD (+3.37%)

2.938 USD (+10.16%)

My analysis

The bullish trend is currently very strong on NATURAL GAS. As long as the price remains above the support at 2.498 USD, you could try to benefit from the boom. The first bullish objective is located at 2.757 USD. The bullish momentum would be boosted by a break in this resistance. Buyers would then use the next resistance located at 2.938 USD as an objective. Crossing it would then enable buyers to target 3.079 USD. Be careful, given the powerful bullish rally underway, excesses could lead to a possible correction in the short term. If this is the case, remember that trading against the trend may be riskier. It would seem more appropriate to wait for a signal indicating reversal of the trend.

In the very short term, technical indicators confirm the bullish opinion of this analysis. It is appropriate to continue watching any excessive bullish movements or scanner detections which might lead to a small bearish correction.

Force

8.2

Comment on the analysis

Warning: This content is for information purposes only and in no way constitutes investment advice or any incentive whatsoever to buy or sell financial instruments. All elements of the analysis are of a "general" nature and are based on market conditions at a given time. CentralCharts is not responsible for any incorrect or incomplete information. Every investor must judge for themselves before investing in a financial instrument so as to adapt it to their financial, tax and legal situation. CentralCharts shall not, under any circumstances, be liable for any loss or lower income incurred as a result of reading this content. Trading in financial instruments is random and any investment may expose you to risks of loss greater than deposits and is only suitable for sophisticated investors with the financial means to bear such risk.

This analysis was given by Barts_XV. Take part yourself by sharing additional analysis on another time unit:

Additional analysis

Quotes

The NATURAL GAS price is 2.667 USD. The price registered an increase of +1.56% on the session with the lowest point at 2.625 USD and the highest point at 2.670 USD. The deviation from the price is +1.60% for the low point and -0.11% for the high point.

2.625

2.670

2.667

A bullish gap was detected at the opening by the Central Gaps scanner. There are a lot of buyers and they have the upper hand in the very short term.

Opening Gap UP

Type : Bullish

Timeframe : Openning

So that you have an overall view of the price change, here is a table showing the variations over several periods:

The Central Records scanner, which identifies the highest / lowest, has detected an element:

New HIGH record (1 month)

Type : Bullish

Timeframe : Weekly

Technical

Technical analysis of NATURAL GAS in 1H shows a strongly overall bullish trend. The signals given by the moving averages are 92.86% bullish. This strong bullish trend is confirmed by the strong signals currently being given by short-term moving averages. The Central Indicators market scanner currently does not detect any result that concerns moving averages.

Technical indicators are strongly bullish, suggesting that the price increase should continue.
But beware of excesses. The Central Indicators scanner currently detects this:

RSI indicator is overbought : over 70

Type : Neutral

Timeframe : 1 hour

RSI indicator: bearish divergence

Type : Bearish

Timeframe : 1 hour

Williams %R indicator is overbought : over -20

Type : Neutral

Timeframe : 1 hour

The Central Indicators scanner specialised in technical indicators, has not detected anything further.

No signals are given by Central Patterns, a market scanner specialised in chart patterns, resistances and supports.

The presence of a bearish pattern in Japanese candlesticks detected by Central Candlesticks that could cause a correction in the very short term was also detected:

Bearish harami cross

Type : Bearish

Timeframe : 1 hour

ProTrendLines

Price

	S3	S2	S1	Price	R1	R2	R3
ProTrendLines	2.274	2.386	2.464	2.667	2.757	3.079	3.341
Change (%)	-14.74%	-10.54%	-7.61%	-	+3.37%	+15.45%	+25.27%
Change	-0.393	-0.281	-0.203	-	+0.090	+0.412	+0.674
Level	Minor	Minor	Intermediate	-	Minor	Minor	Intermediate

To determine price objectives, it is also possible to use the pivot points. Here is the price position in relation to pivot points:

Daily

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	2.354	2.419	2.523	2.588	2.692	2.757	2.861
Camarilla	2.580	2.595	2.611	2.626	2.642	2.657	2.673
Woodie	2.373	2.429	2.542	2.598	2.711	2.767	2.880
Fibonacci	2.419	2.484	2.524	2.588	2.653	2.693	2.757

Weekly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	1.902	2.058	2.342	2.498	2.782	2.938	3.222
Camarilla	2.505	2.545	2.586	2.626	2.666	2.707	2.747
Woodie	1.966	2.090	2.406	2.530	2.846	2.970	3.286
Fibonacci	2.058	2.226	2.330	2.498	2.666	2.770	2.938

Monthly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	1.444	1.677	1.804	2.037	2.164	2.397	2.524
Camarilla	1.833	1.866	1.899	1.932	1.965	1.998	2.031
Woodie	1.392	1.651	1.752	2.011	2.112	2.371	2.472
Fibonacci	1.677	1.814	1.899	2.037	2.174	2.259	2.397

Numerical data

The following are the details of the technical indicators and moving averages that were collected to generate this technical analysis:

Technical indicators

Moving averages

RSI (14):	76.91
MACD (12,26,9):	0.0440
Directional Movement:	34.003
AROON (14):	92.857
DEMA (21):	2.667
Parabolic SAR (0,02-0,02-0,2):	2.625
Elder Ray (13):	0.035
Super Trend (3,10):	2.607
Zig ZAG (10):	2.667
VORTEX (21):	1.3120
Stochastique (14,3,5):	97.93
TEMA (21):	2.678
Williams %R (14):	-2.89
Chande Momentum Oscillator (20):	0.072
Repulse (5,40,3):	0.6050
ROCnROLL:	1
TRIX (15,9):	0.2380
Courbe Coppock:	8.49

MA7:	2.455
MA20:	2.211
MA50:	2.166
MA100:	2.369
MAexp7:	2.653
MAexp20:	2.610
MAexp50:	2.538
MAexp100:	2.463
Price / MA7:	+8.64%
Price / MA20:	+20.62%
Price / MA50:	+23.13%
Price / MA100:	+12.58%
Price / MAexp7:	+0.53%
Price / MAexp20:	+2.18%
Price / MAexp50:	+5.08%
Price / MAexp100:	+8.28%

Quotes : - 10 min delayed data - NYMEX Futures

News

Don't forget to follow the news on NATURAL GAS. At the time of publication of this analysis, the latest news was as follows:

This member declared not having a position on this financial instrument or a related financial instrument.

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