NATURAL GAS - 1H - Technical analysis published on 06/21/2024 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : TARGET REACHED
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Summary of the analysis
Trends
Short term:
Strongly bearish
Underlying:
Strongly bearish
Technical indicators
22%
56%
22%
My opinion
Bearish under 2.753 USD
My targets
2.670 USD (-1.75%)
2.510 USD (-7.65%)
My analysis
NATURAL GAS is part of a very strong bearish trend. Traders may consider trading only short positions (for sale) as long as the price remains well below 2.753 USD. The next support located at 2.670 USD is the next bearish objective to target. A bearish break of this support would revive the bearish momentum. The bearish movement could then continue towards the next support located at 2.510 USD. Below this support, sellers could then target 2.221 USD. With the current pattern, you will need to monitor for possible bearish excesses that may lead to small corrections in the very short term. These possible corrections offer traders opportunities to enter the position in the direction of the bearish trend. Trying to profit from the purchase of these possible corrections may seem risky.
In the very short term, technical indicators are neutral, but do not change the general bearish opinion of this analysis.
Force
0
10
6.8
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This analysis was given by Muhahaha. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
The NATURAL GAS rating is 2.718 USD. On the day, this instrument lost -0.84% with the lowest point at 2.714 USD and the highest point at 2.741 USD. The deviation from the price is +0.15% for the low point and -0.84% for the high point.2.714
2.741
2.718
The Central Gaps scanner detects a bearish opening marking the presence of sellers ahead of buyers at the opening but not sufficiently marked to allow the price to register a quotation gap.
Bearish opening
Type : Bearish
Timeframe : Openning
Here is a more detailed summary of the historical variations registered by NATURAL GAS:
Technical
A technical analysis in 1H of this NATURAL GAS chart shows a sharp bearish trend. 89.29% of the signals given by moving averages are bearish. This strongly bearish trend is supported by the strong bearish signals given by short-term moving averages. The Central Indicators scanner does not detect any result on moving averages that would impact this trend.
On the 18 technical indicators analysed, 4 are bullish, 4 are neutral and 10 are bearish. But beware of excesses. The Central Indicators scanner currently detects this:
RSI indicator is oversold : under 30
Type : Neutral
Timeframe : 1 hour
RSI indicator: bullish divergence
Type : Bullish
Timeframe : 1 hour
Williams %R indicator is oversold : under -80
Type : Neutral
Timeframe : 1 hour
Pivot points : price is under support 1
Type : Neutral
Timeframe : Weekly
The analysis of the price chart with Central Patterns scanners does not return any result.
The Central Candlesticks scanner which studies Japanese candlesticks did not detect anything.
ProTrendLines
S2
S1
R1
R2
R3
Price
| S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|
| ProTrendLines | 2.221 | 2.510 | 2.718 | 2.753 | 2.859 | 2.994 |
| Change (%) | -18.29% | -7.65% | - | +1.29% | +5.19% | +10.15% |
| Change | -0.497 | -0.208 | - | +0.035 | +0.141 | +0.276 |
| Level | Major | Intermediate | - | Intermediate | Intermediate | Minor |
Pivot points can also be used to set your price objectives. Here is the price situation in relation to pivot points:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 2.435 | 2.579 | 2.660 | 2.804 | 2.885 | 3.029 | 3.110 |
| Camarilla | 2.679 | 2.700 | 2.720 | 2.741 | 2.762 | 2.782 | 2.803 |
| Woodie | 2.404 | 2.563 | 2.629 | 2.788 | 2.854 | 3.013 | 3.079 |
| Fibonacci | 2.579 | 2.665 | 2.718 | 2.804 | 2.890 | 2.943 | 3.029 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 2.479 | 2.670 | 2.776 | 2.967 | 3.073 | 3.264 | 3.370 |
| Camarilla | 2.799 | 2.827 | 2.854 | 2.881 | 2.908 | 2.936 | 2.963 |
| Woodie | 2.436 | 2.649 | 2.733 | 2.946 | 3.030 | 3.243 | 3.327 |
| Fibonacci | 2.670 | 2.784 | 2.854 | 2.967 | 3.081 | 3.151 | 3.264 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1.134 | 1.675 | 2.131 | 2.672 | 3.128 | 3.669 | 4.125 |
| Camarilla | 2.313 | 2.404 | 2.496 | 2.587 | 2.678 | 2.770 | 2.861 |
| Woodie | 1.092 | 1.654 | 2.089 | 2.651 | 3.086 | 3.648 | 4.083 |
| Fibonacci | 1.675 | 2.056 | 2.291 | 2.672 | 3.053 | 3.288 | 3.669 |
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): | 23.66 | |
| MACD (12,26,9): | -0.0410 | |
| Directional Movement: | -28.133 | |
| AROON (14): | -64.286 | |
| DEMA (21): | 2.709 | |
| Parabolic SAR (0,02-0,02-0,2): | 2.729 | |
| Elder Ray (13): | -0.022 | |
| Super Trend (3,10): | 2.769 | |
| Zig ZAG (10): | 2.719 | |
| VORTEX (21): | 0.6670 | |
| Stochastique (14,3,5): | 4.26 | |
| TEMA (21): | 2.691 | |
| Williams %R (14): | -94.25 | |
| Chande Momentum Oscillator (20): | -0.039 | |
| Repulse (5,40,3): | -0.1540 | |
| ROCnROLL: | 2 | |
| TRIX (15,9): | -0.2150 | |
| Courbe Coppock: | 6.79 |
| MA7: | 2.845 | |
| MA20: | 2.814 | |
| MA50: | 2.647 | |
| MA100: | 2.596 | |
| MAexp7: | 2.724 | |
| MAexp20: | 2.762 | |
| MAexp50: | 2.815 | |
| MAexp100: | 2.848 | |
| Price / MA7: | -4.46% | |
| Price / MA20: | -3.41% | |
| Price / MA50: | +2.68% | |
| Price / MA100: | +4.70% | |
| Price / MAexp7: | -0.22% | |
| Price / MAexp20: | -1.59% | |
| Price / MAexp50: | -3.45% | |
| Price / MAexp100: | -4.56% |
Quotes :
-
10 min delayed data
-
NYMEX Futures
News
The last news published on NATURAL GAS at the time of the generation of this analysis was as follows:
-
Natural gas Prices forecast for the week of December 12 2016, Technical Analysis
-
Natural Gas Technical Analysis for December 12 2016 by FXEmpire.com
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Natural Gas Technical Analysis for December 09 2016 by FXEmpire.com
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Natural Gas Technical Analysis for December 08 2016 by FXEmpire.com
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Natural Gas Technical Analysis for December 07 2016 by FXEmpire.com
This member declared not having a position on this financial instrument or a related financial instrument.
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