Natural Gas Report

Technical outlook

Natural gas daily chart has formed “Falling channel” 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 level holding near 138. The upside rally could be testing all the way through 142-145 levels in the upcoming sessions. Alternatively, if the market struggles to break the resistance level, then it might retest the same and turn bearish/sideways once again. Key support holds at 132.

Technical outlook

Natural gas daily chart has formed “Falling channel” 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 level holding near 133. The downside rally could be testing all the way through 130-126 levels in the upcoming sessions. Alternatively, if the market struggles to break the support level, then it might retest the same and turn bullish/sideways once again. Key resistance holds at 138.

Technical outlook

Natural gas daily chart has formed “Falling channel” 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 level holding near 138.50. The downside rally could be testing all the way through 135.50-132 levels in the upcoming sessions. Alternatively, if the market struggles to break the support level, then it might retest the same and turn bullish/sideways once again. Key resistance holds at 141.50.

Technical outlook

Natural gas 4hr 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 stiff resistance level holding near 144. The upside rally could be testing all the way through 147-150 levels in the upcoming sessions. Alternatively, if the market struggles to break the resistance level, then it might retest the same and turn bearish/sideways once again. Key support holds at 134.

Technical outlook

Natural gas 4hr chart has formed “Right angled descending broadening wedge” 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 crucial support level holding near 133. The downside rally could be testing all the way through 130-127 levels in the upcoming sessions. Alternatively, if the market struggles to break the support level, then it might retest the same and turn bullish/sideways once again. Key resistance holds at 138.50.

Technical outlook

Natural gas daily chart has formed “Falling wedge” pattern. The last few sessions ended up in sideways trend retesting near the channel’s resistance line. The market is expected to continue on bullish momentum based on the price action, once the same breaks above a stiff resistance area holding at 133.50. The upside rally could be testing all the way through 136-138 levels in the upcoming sessions. Alternatively, if the market struggles to break the resistance level, then it might retest the same and turn bearish/sideways once again. Key support holds at 128.

Technical outlook

Natural gas daily chart has formed “Falling wedge” pattern. The last few sessions ended up in sideways trend retesting near the channel’s resistance line. The market is expected to continue on bullish momentum based on the price action, once the same breaks above a stiff resistance area holding at 130.50. The upside rally could be testing all the way through 134-137 levels in the upcoming sessions. Alternatively, if the market struggles to break the resistance level, then it might retest the same and turn bearish/sideways once again. Key support holds at 126.

Technical outlook

Natural gas daily chart has formed “Falling wedge” pattern. The last few sessions ended up in sideways trend retesting near the channel’s resistance line. The market is expected to continue on bearish momentum based on the price action, once the same breaks below a key support holding at 126. The downside rally could be testing all the way through 123-120 levels in the upcoming sessions. Alternatively, if the market struggles to break the support level, then it might retest the same and turn bullish/sideways once again. Key resistance holds at 131.

Technical outlook

Natural gas daily chart has formed “Falling wedge” pattern. The last few sessions ended up in sideways trend along with some corrections 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 132. The upside rally could be testing all the way through 135-138 levels in the upcoming sessions. Alternatively, if the market struggles to break the resistance level, then it might retest the same and turn bearish/sideways once again. Key support holds at 122.

Technical outlook

Natural gas 4hr chart has formed “Falling channel” pattern. The last few sessions ended up in sideways trend along with some corrections 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 119.50. The upside rally could be testing all the way through 122-125 levels in the upcoming sessions. Alternatively, if the market struggles to break the resistance level, then it might retest the same and turn bearish/sideways once again. Key support holds at 112.