NATURAL GAS - Daily - Technical analysis published on 12/30/2024 (GMT)
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- Timeframe : Daily
- - Analysis generated on
- Status : TARGET REACHED
Summary of the analysis
Trends
Short term:
Strongly bullish
Underlying:
Strongly bullish
Technical indicators
83%
6%
11%
My opinion
Bullish above 3.564 USD
My targets
3.738 USD (+1.49%)
3.951 USD (+7.28%)
My analysis
The bullish trend is currently very strong on NATURAL GAS. As long as the price remains above the support at 3.564 USD, you could try to benefit from the boom. The first bullish objective is located at 3.738 USD. The bullish momentum would be boosted by a break in this resistance. Buyers would then use the next resistance located at 3.951 USD as an objective. Crossing it would then enable buyers to target 5.012 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.
Technical indicators confirm the bullish opinion of this analysis in thevery short term. However, be careful of excessive bullish movements. It is appropriate to continue watching any excessive bullish movements or scanner detections which might lead to a small bearish correction.
Force
0
10
8.2
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This analysis was given by Mark Thomer. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
NATURAL GAS rating 3.683 USD. The price has increased by +8.87% since the last closing and was traded between 3.648 USD and 3.749 USD over the period. The price is currently at +0.96% from its lowest and -1.76% from its highest.3.648
3.749
3.683
The Central Gaps scanner detects the formation of a bullish gap marking the strong presence of buyers against sellers at the opening. This formed a quotation gap.
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:
New HIGH record (1st january)
Type : Bullish
Timeframe : Weekly
New HIGH record (1 month)
Type : Bullish
Timeframe : Weekly
Technical
Technical analysis of this Daily chart of NATURAL GAS indicates that the overall trend is strongly bullish. 89.29% of the signals given by moving averages are bullish. The overall trend is supported by the strong bullish signals from short-term moving averages. An assessment of moving averages reveals a bullish signal that could impact this trend:
Moving Average bullish crossovers : AMA20 & AMA50
Type : Bullish
Timeframe : Daily
The probability of a further increase is high 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 : Daily
Williams %R indicator is overbought : over -20
Type : Neutral
Timeframe : Daily
Pivot points : price is over resistance 1
Type : Neutral
Timeframe : Weekly
Pivot points : price is over resistance 3
Type : Neutral
Timeframe : Daily
No signals are given by Central Patterns, a market scanner specialised in chart patterns, resistances and supports.
The presence of these Japanese chandelier patterns detected by Central Candlesticks that could impact the current short-term trend were also noted:
Upside gap
Type : Bullish
Timeframe : Daily
Doji
Type : Neutral
Timeframe : Daily
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 3.031 | 3.221 | 3.393 | 3.683 | 3.738 | 3.951 | 5.012 |
| Change (%) | -17.70% | -12.54% | -7.87% | - | +1.49% | +7.28% | +36.08% |
| Change | -0.652 | -0.462 | -0.290 | - | +0.055 | +0.268 | +1.329 |
| Level | Intermediate | Intermediate | Minor | - | Minor | Major | Minor |
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 | 3.138 | 3.216 | 3.299 | 3.377 | 3.460 | 3.538 | 3.621 |
| Camarilla | 3.339 | 3.354 | 3.368 | 3.383 | 3.398 | 3.413 | 3.427 |
| Woodie | 3.142 | 3.217 | 3.303 | 3.378 | 3.464 | 3.539 | 3.625 |
| Fibonacci | 3.216 | 3.277 | 3.315 | 3.377 | 3.438 | 3.476 | 3.538 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 2.770 | 2.952 | 3.167 | 3.349 | 3.564 | 3.746 | 3.961 |
| Camarilla | 3.274 | 3.310 | 3.347 | 3.383 | 3.419 | 3.456 | 3.492 |
| Woodie | 2.788 | 2.960 | 3.185 | 3.357 | 3.582 | 3.754 | 3.979 |
| Fibonacci | 2.952 | 3.103 | 3.197 | 3.349 | 3.500 | 3.594 | 3.746 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1.288 | 1.760 | 2.337 | 2.809 | 3.386 | 3.858 | 4.435 |
| Camarilla | 2.627 | 2.723 | 2.819 | 2.915 | 3.011 | 3.107 | 3.204 |
| Woodie | 1.342 | 1.786 | 2.391 | 2.835 | 3.440 | 3.884 | 4.489 |
| Fibonacci | 1.760 | 2.160 | 2.408 | 2.809 | 3.209 | 3.457 | 3.858 |
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): | 68.83 | |
| MACD (12,26,9): | 0.2010 | |
| Directional Movement: | 19.315 | |
| AROON (14): | 100.000 | |
| DEMA (21): | 3.364 | |
| Parabolic SAR (0,02-0,02-0,2): | 3.114 | |
| Elder Ray (13): | 0.455 | |
| Super Trend (3,10): | 3.020 | |
| Zig ZAG (10): | 3.674 | |
| VORTEX (21): | 1.0810 | |
| Stochastique (14,3,5): | 84.61 | |
| TEMA (21): | 3.505 | |
| Williams %R (14): | -6.78 | |
| Chande Momentum Oscillator (20): | 0.667 | |
| Repulse (5,40,3): | -1.0790 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | 0.6970 | |
| Courbe Coppock: | 47.88 |
| MA7: | 3.412 | |
| MA20: | 3.012 | |
| MA50: | 2.803 | |
| MA100: | 2.815 | |
| MAexp7: | 3.392 | |
| MAexp20: | 3.131 | |
| MAexp50: | 2.936 | |
| MAexp100: | 2.911 | |
| Price / MA7: | +7.94% | |
| Price / MA20: | +22.28% | |
| Price / MA50: | +31.39% | |
| Price / MA100: | +30.83% | |
| Price / MAexp7: | +8.58% | |
| Price / MAexp20: | +17.63% | |
| Price / MAexp50: | +25.44% | |
| Price / MAexp100: | +26.52% |
Quotes :
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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
-
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
-
Natural Gas Technical Analysis for December 08 2016 by FXEmpire.com
-
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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