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Natural Gas Prices Technical Analysis - Natural Gas Prices Trading: 2022-11-16
Natural Gas Technical Analysis Summary
Above 7,02
Buy Stop
Below 5,25
Stop Loss
| Indicator | Signal |
| RSI | Neutral |
| MACD | Buy |
| MA(200) | Neutral |
| Fractals | Neutral |
| Parabolic SAR | Buy |
| Bollinger Bands | Neutral |
Natural Gas Chart Analysis
Natural Gas Technical Analysis
On the daily timeframe, NATGAS: D1 failed to break down the lower boundary of the neutral channel and is moving towards its upper boundary. A number of technical analysis indicators formed signals for further growth. We do not rule out a bullish movement if NATGAS: D1 rises above its latest up fractal, upper Bollinger band and 200-day moving average line: 7.02. This level can be used as an entry point. The initial risk limit is possible below the Parabolic signal, the lower Bollinger band and the last 3 lower fractals: 5.25. After opening a pending order, we move the stop following the Bollinger and Parabolic signals to the next fractal low. Thus, we change the potential profit/loss ratio in our favor. The most cautious traders, after making a trade, can switch to a four-hour chart and set a stop loss, moving it in the direction of movement. If the price overcomes the stop level (5.25) without activating the order (7.02), it is recommended to delete the order: the market is undergoing internal changes that were not taken into account.
Fundamental Analysis of Commodities - Natural Gas
Cooler temperatures are expected in Europe and the US. Will NATGAS quotes increase?
Commodity Weather Group predicts a cold snap in the US. This may increase the demand for natural gas for heating. Temperatures are also expected to drop in Europe. Frosts are possible in Germany. Natural gas quotes on the ICE Dutch TTF rose to $1,300 per 1,000 cubic meters. Another positive factor may be the data from the U.S. Energy Information Administration on an increase in natural gas consumption in the United States in 2021 by 3.6% compared to 2020. This was mainly due to increased exports of US liquefied natural gas (LNG). The agency also notes that this trend has continued in 2022. The US has become the world's largest exporter of LNG. In the 1st half of 2022, its shipments from the US increased by 12% compared to the 2nd half of 2021 and reached 11.2 billion cubic feet per day.
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