Natural Gas Report

Technical outlook

Natural gas daily chart has formed “Megaphone chart” pattern. The last few sessions ended up in sideways trend inside the channel. The market is expected to continue on bearish momentum based on the price action, testing all the way through 119 levels in the upcoming sessions. Alternatively, if the market breaks above a key resistance holding at 130 then it might turn bullish once again. The upside rally could test up to 134-138 levels. Key support holds at 119.

Technical outlook

Natural gas daily chart has formed “Megaphone chart” pattern. The last few sessions ended up in sideways trend inside the channel. The market is expected to continue on bullish momentum based on the price action, once the same breaks above a key resistance holding at 133. The upside rally could be testing all the way through 137-140 levels in the upcoming sessions. Alternatively, if the key resistance holds strong then the market might retest the same and turn bearish once again. The downside rally could test up to 124 levels. Key support holds at 124.

Technical outlook

Natural gas daily chart has formed “Megaphone chart” pattern. The last few sessions ended up in sideways trend inside the channel. The market is expected to continue on bearish momentum based on the price action, once the same breaks below a key support holding at 124. The downside rally could be testing all the way through 120-118 levels in the upcoming sessions. Alternatively, if the key support holds strong then the market might retest the same and turn bullish once again. The upside rally could test up to 132 levels. Key resistance holds at 132.

Technical outlook

Natural gas daily chart has formed “Megaphone chart” pattern. The last few sessions ended up in sideways trend inside the channel. The market is expected to continue on bearish momentum based on the price action, testing all the way through 121 levels in the upcoming sessions. Alternatively, if the market breaks above a key resistance holding at 131 then it might turn bullish once again. The upside rally could test up to 138 levels. Key resistance holds at 121.

Technical outlook

Natural gas daily chart has formed “Megaphone chart” pattern. The last few sessions ended up in sideways trend inside the channel. The market is expected to continue on bearish momentum based on the price action, once the same breaks below a key support holding at 121. The downside rally could be testing all the way through 117-113 levels in the upcoming sessions. Alternatively, if the key support holds strong then the market might retest the same and turn bullish once again. The upside rally could test up to 130 levels. Key resistance holds at 130.

Technical outlook

Natural gas daily chart has formed “Megaphone chart” pattern. The last few sessions ended up in sideways trend inside the channel. The market is expected to continue on bearish momentum based on the price action, testing all the way through 119 levels in the upcoming sessions. Alternatively, if the market breaks above a key resistance holing at 128 then it might turn bullish once again. The upside rally could test up to 135 levels. Key support holds at 119.

Technical outlook

Natural gas daily chart has formed “Megaphone chart” pattern. The last few sessions ended up in sideways trend inside the channel. The market is expected to continue on bullish momentum based on the price action, once the same breaks above a key resistance holding at 126. The upside rally could be testing all the way through 130-132 levels in the upcoming sessions. Alternatively, if the key resistance holds strong then the market might retest the same and turn bearish. The downside rally could test up to 118 levels. Key support holds at 118.

Technical outlook

Natural gas daily chart has formed “Megaphone chart” pattern. The last few sessions ended up in sideways trend inside the channel. The market is expected to continue on bullish momentum based on the price action, once the same breaks above a key resistance holding at 126. The upside rally could be testing all the way through 130-132 levels in the upcoming sessions. Alternatively, if the key resistance holds strong then the market might retest the same and turn bearish. The downside rally could test up to 118 levels. Key support holds at 118.

Technical outlook

Natural gas daily chart has formed “Megaphone chart” pattern. The last few sessions ended up in sideways trend inside the channel. The market is expected to continue on bearish momentum based on the price action, once the same breaks below a key support holding at 121. The downside rally could be testing all the way through 118-114 levels in the upcoming sessions. Alternatively, if the key support holds strong then the market might retest the same and turn bullish. The upside rally could test up to 130 levels. Key resistance holds at 130.

Technical outlook

Natural gas daily chart has formed “Megaphone chart” pattern. The last few sessions ended up in sideways trend inside the channel. The market is expected to continue on bullish momentum based on the price action, testing all the way through 130 levels in the upcoming sessions. Alternatively, if the market breaks below a key support holding at 122 then it might turn bearish once again. The downside rally could test up to 116 levels. Key resistance holds at 130.