NATURAL GAS - 15 min. - Technical analysis published on 11/21/2024 (GMT)
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- Timeframe : 15 min.
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Summary of the analysis
Trends
Short term:
Bullish
Underlying:
Strongly bullish
Technical indicators
61%
6%
33%
My opinion
Bullish above 3.331 USD
My targets
3.419 USD (+1.00%)
3.601 USD (+6.38%)
My analysis
The basic bullish trend is very strong on NATURAL GAS but the short term shows some signs of running out of steam. However, a purchase could be considered as long as the price remains above 3.331 USD. Crossing the first resistance at 3.419 USD would be a sign of a potential new surge in the price. Buyers would then use the next resistance located at 3.601 USD as an objective. Crossing it would then enable buyers to target 3.666 USD. Caution, a return to below 3.331 USD would be a sign of a consolidation phase in the short-term basic trend. 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, the general bullish sentiment is confirmed by technical indicators. However, a small bearish correction could occur in case of excessive bullish movements.
Force
0
10
6.8
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Additional analysis
Quotes
NATURAL GAS rating 3.385 USD. The price registered an increase of +6.01% on the session and was traded between 3.195 USD and 3.445 USD over the period. The price is currently at +5.95% from its lowest and -1.74% from its highest.3.195
3.445
3.385
So that you have an overall view of the price change, here is a table showing the variations over several periods:
New HIGH record (1 month)
Type : Bullish
Timeframe : Weekly
Technical
A technical analysis in 15 min. of this NATURAL GAS chart shows a strongly bullish trend. 85.71% of the signals given by moving averages are bullish. The slightly bullish signals given by the short-term moving averages show a weakening of the global trend. The Central Indicators market scanner currently does not detect any result that concerns moving averages.
The probability of a further increase are moderate given the direction of the technical indicators.
But beware of excesses. The Central Indicators scanner currently detects this:
CCI indicator is overbought : over 100
Type : Neutral
Timeframe : 15 minutes
Pivot points : price is over resistance 1
Type : Neutral
Timeframe : 15 minutes
Pivot points : price is over resistance 3
Type : Neutral
Timeframe : Weekly
No signals are given by Central Patterns, a market scanner specialised in chart patterns, resistances and supports.
Central Candlesticks, the scanner specialised in Japanese candlesticks, detects this inversion signal that could impact the current short-term trend:
Doji
Type : Neutral
Timeframe : 15 minutes
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 2.976 | 3.095 | 3.229 | 3.385 | 3.504 | 3.666 | 3.831 |
| Change (%) | -12.08% | -8.57% | -4.61% | - | +3.52% | +8.30% | +13.18% |
| Change | -0.409 | -0.290 | -0.156 | - | +0.119 | +0.281 | +0.446 |
| Level | Intermediate | Major | Intermediate | - | Intermediate | Minor | 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 | 2.716 | 2.829 | 3.011 | 3.124 | 3.306 | 3.419 | 3.601 |
| Camarilla | 3.112 | 3.139 | 3.166 | 3.193 | 3.220 | 3.247 | 3.274 |
| Woodie | 2.751 | 2.846 | 3.046 | 3.141 | 3.341 | 3.436 | 3.636 |
| Fibonacci | 2.829 | 2.942 | 3.011 | 3.124 | 3.237 | 3.306 | 3.419 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 2.335 | 2.512 | 2.667 | 2.844 | 2.999 | 3.176 | 3.331 |
| Camarilla | 2.732 | 2.762 | 2.793 | 2.823 | 2.853 | 2.884 | 2.914 |
| Woodie | 2.325 | 2.507 | 2.657 | 2.839 | 2.989 | 3.171 | 3.321 |
| Fibonacci | 2.512 | 2.639 | 2.717 | 2.844 | 2.971 | 3.049 | 3.176 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1.423 | 2.028 | 2.345 | 2.950 | 3.267 | 3.872 | 4.189 |
| Camarilla | 2.410 | 2.494 | 2.579 | 2.663 | 2.748 | 2.832 | 2.917 |
| Woodie | 1.280 | 1.956 | 2.202 | 2.878 | 3.124 | 3.800 | 4.046 |
| Fibonacci | 2.028 | 2.380 | 2.598 | 2.950 | 3.302 | 3.520 | 3.872 |
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): | 64.83 | |
| MACD (12,26,9): | 0.0220 | |
| Directional Movement: | 19.740 | |
| AROON (14): | 71.428 | |
| DEMA (21): | 3.415 | |
| Parabolic SAR (0,02-0,02-0,2): | 3.364 | |
| Elder Ray (13): | 0.016 | |
| Super Trend (3,10): | 3.353 | |
| Zig ZAG (10): | 3.408 | |
| VORTEX (21): | 1.0910 | |
| Stochastique (14,3,5): | 68.49 | |
| TEMA (21): | 3.409 | |
| Williams %R (14): | -31.03 | |
| Chande Momentum Oscillator (20): | 0.026 | |
| Repulse (5,40,3): | 0.3750 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | 0.1020 | |
| Courbe Coppock: | 1.04 |
| MA7: | 3.021 | |
| MA20: | 2.878 | |
| MA50: | 3.053 | |
| MA100: | 3.057 | |
| MAexp7: | 3.400 | |
| MAexp20: | 3.384 | |
| MAexp50: | 3.333 | |
| MAexp100: | 3.261 | |
| Price / MA7: | +12.05% | |
| Price / MA20: | +17.62% | |
| Price / MA50: | +10.87% | |
| Price / MA100: | +10.73% | |
| Price / MAexp7: | -0.44% | |
| Price / MAexp20: | +0.03% | |
| Price / MAexp50: | +1.56% | |
| Price / MAexp100: | +3.80% |
Quotes :
-
10 min delayed data
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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
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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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