NATURAL GAS

- USD (-)

- 10 min delayed data - NYMEX Futures

Open:	-
Change:	-
Volume:	-

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

Type:	Commodities
Ticker:	NG
ISIN:

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

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Timeframe : Daily
- Analysis generated on
Status : INVALID

Summary of the analysis

Trends

Short term: Strongly bullish

Underlying: Bullish

Technical indicators

94%

My opinion

Bullish above 2.524 USD

My targets

2.757 USD (+3.22%)

2.938 USD (+10.00%)

My analysis

In the short term, there could be an acceleration of the basic bullish trend on NATURAL GAS. This is a positive signal for buyers. As long as the price remains above 2.524 USD, a purchase could be considered. 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. In the event of a return below 2.524 USD, the price would probably only initiate a small short-term correction to improve the bullish trend. Trading this correction may be risky.

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

7.7

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 2.671 USD. The price registered an increase of +1.71% on the session and was traded between 2.625 USD and 2.672 USD over the period. The price is currently at +1.75% from its lowest and -0.04% from its highest.

2.625

2.672

2.671

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

A study of price movements over other periods shows the following variations:

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 Daily shows an overall bullish trend. 78.57% of the signals given by moving averages are bullish. This bullish trend is supported by the strong bullish signals given by short-term moving averages. The Central Indicators scanner does not detect any result on moving averages that would impact this trend.

In fact, 17 technical indicators on 18 studied are currently positioned bullish. Caution: the Central Indicators scanner currently detects an excess:

RSI indicator is overbought : over 70

Type : Neutral

Timeframe : Daily

CCI indicator is overbought : over 100

Type : Neutral

Timeframe : Daily

Williams %R indicator is overbought : over -20

Type : Neutral

Timeframe : Daily

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

The analysis of the price chart with Central Patterns scanners does not return any result.

For a small setback in the very short term, the Central Candlesticks scanner currently notes the presence of this bearish pattern in Japanese candlesticks:

Bearish doji star

Type : Bearish

Timeframe : Daily

ProTrendLines

Price

	S3	S2	S1	Price	R1	R2	R3
ProTrendLines	1.923	2.226	2.464	2.671	2.757	3.079	3.341
Change (%)	-28.00%	-16.66%	-7.75%	-	+3.22%	+15.28%	+25.08%
Change	-0.748	-0.445	-0.207	-	+0.086	+0.408	+0.670
Level	Minor	Major	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 is the status of the technical indicators and moving averages at the time of publication of this technical analysis:

Technical indicators

Moving averages

RSI (14):	73.84
MACD (12,26,9):	0.1180
Directional Movement:	27.259
AROON (14):	92.857
DEMA (21):	2.424
Parabolic SAR (0,02-0,02-0,2):	2.321
Elder Ray (13):	0.277
Super Trend (3,10):	2.290
Zig ZAG (10):	2.667
VORTEX (21):	1.2180
Stochastique (14,3,5):	94.58
TEMA (21):	2.548
Williams %R (14):	-0.40
Chande Momentum Oscillator (20):	0.632
Repulse (5,40,3):	9.2750
ROCnROLL:	1
TRIX (15,9):	0.3810
Courbe Coppock:	44.54

MA7:	2.455
MA20:	2.211
MA50:	2.166
MA100:	2.369
MAexp7:	2.482
MAexp20:	2.300
MAexp50:	2.248
MAexp100:	2.374
Price / MA7:	+8.80%
Price / MA20:	+20.81%
Price / MA50:	+23.31%
Price / MA100:	+12.75%
Price / MAexp7:	+7.61%
Price / MAexp20:	+16.13%
Price / MAexp50:	+18.82%
Price / MAexp100:	+12.51%

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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