NATURAL GAS - Weekly - Technical analysis published on 10/21/2023 (GMT)
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- Timeframe : Weekly
- - Analysis generated on
- Status : INVALID
Summary of the analysis
Trends
Short term:
Bearish
Underlying:
Strongly bearish
Technical indicators
28%
28%
44%
My opinion
Bearish under 3.124 USD
My targets
2.668 USD (-7.97%)
My analysis
All elements being clearly bearish, it would be possible for traders to trade only short positions (for sale) on NATURAL GAS as long as the price remains well below 3.124 USD. The next bearish objective for sellers is set at 2.668 USD. A bearish break of this support would revive the bearish momentum. Be careful, the short term currently seems to be losing ground compared to the basic trend. Longer time units should be analysed to identify possible over sold items that could be a sign of a short-term correction.
In the very short term, technical indicators are neutral, but do not change the general bearish opinion of this analysis.
Force
0
10
5.4
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This analysis was given by JulianDB. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
The NATURAL GAS rating is 2.899 USD. Over 5 days, this instrument lost -10.41% and was traded between 2.880 USD and 3.158 USD over the period. The price is currently at +0.66% from its lowest point and -8.20% from its highest point.2.880
3.158
2.899
A bullish opening was detected by the Central Gaps scanner. Buyers are trying to impose a bullish momentum in the very short term.
Bullish opening
Type : Bullish
Timeframe : Openning
Here is a more detailed summary of the historical variations registered by NATURAL GAS:
Near a new LOW record (1 month)
Type : Bearish
Timeframe : Weekly
Technical
A technical analysis in Weekly of this NATURAL GAS chart shows a sharp bearish trend. The signals given by moving averages are 89.29% bearish. This strongly bearish trend seems to be slowing down given the slightly bearish signals being given by short-term moving averages. The Central Indicators market scanner is currently detecting several bearish signals that could impact this trend:
Bearish price crossover with Moving Average 20
Type : Bearish
Timeframe : Weekly
Bearish price crossover with adaptative moving average 20
Type : Bearish
Timeframe : Weekly
An assessment of technical indicators does not currently provide any relevant information on the direction of future price movements.
Central Indicators, the detector scanner for these technical indicators has recently detected several signals:
Pivot points : price is under support 3
Type : Neutral
Timeframe : Weekly
Momentum indicator is back under 0
Type : Bearish
Timeframe : Weekly
Williams %R indicator is back under -50
Type : Bearish
Timeframe : Weekly
No signals are given by Central Patterns, a market scanner specialised in chart patterns, resistances and supports.
For a small setback in the very short term, the Central Candlesticks scanner currently notes the presence of this bearish pattern in Japanese candlesticks:
Black evening star
Type : Bearish
Timeframe : Weekly
Downside gap
Type : Bearish
Timeframe : Weekly
ProTrendLines
S1
R1
R2
R3
Price
| S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|
| ProTrendLines | 2.668 | 2.899 | 4.582 | 6.046 | 8.832 |
| Change (%) | -7.97% | - | +58.05% | +108.55% | +204.66% |
| Change | -0.231 | - | +1.683 | +3.147 | +5.933 |
| Level | Major | - | Intermediate | Minor | Major |
Attention could also be paid to pivot points to set price objectives:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 2.754 | 2.848 | 2.903 | 2.997 | 3.052 | 3.146 | 3.201 |
| Camarilla | 2.916 | 2.930 | 2.943 | 2.957 | 2.971 | 2.984 | 2.998 |
| Woodie | 2.734 | 2.838 | 2.883 | 2.987 | 3.032 | 3.136 | 3.181 |
| Fibonacci | 2.848 | 2.905 | 2.940 | 2.997 | 3.054 | 3.089 | 3.146 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 2.868 | 3.035 | 3.136 | 3.303 | 3.404 | 3.571 | 3.672 |
| Camarilla | 3.162 | 3.187 | 3.211 | 3.236 | 3.261 | 3.285 | 3.310 |
| Woodie | 2.834 | 3.019 | 3.102 | 3.287 | 3.370 | 3.555 | 3.638 |
| Fibonacci | 3.035 | 3.138 | 3.201 | 3.303 | 3.406 | 3.469 | 3.571 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 2.380 | 2.576 | 2.752 | 2.948 | 3.124 | 3.320 | 3.496 |
| Camarilla | 2.827 | 2.861 | 2.895 | 2.929 | 2.963 | 2.997 | 3.031 |
| Woodie | 2.371 | 2.571 | 2.743 | 2.943 | 3.115 | 3.315 | 3.487 |
| Fibonacci | 2.576 | 2.718 | 2.806 | 2.948 | 3.090 | 3.178 | 3.320 |
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): | 42.24 | |
| MACD (12,26,9): | -0.2150 | |
| Directional Movement: | 0.009 | |
| AROON (14): | 35.714 | |
| DEMA (21): | 2.742 | |
| Parabolic SAR (0,02-0,02-0,2): | 2.810 | |
| Elder Ray (13): | -0.012 | |
| Super Trend (3,10): | 3.805 | |
| Zig ZAG (10): | 2.920 | |
| VORTEX (21): | 0.9860 | |
| Stochastique (14,3,5): | 58.86 | |
| TEMA (21): | 3.115 | |
| Williams %R (14): | -78.71 | |
| Chande Momentum Oscillator (20): | -0.109 | |
| Repulse (5,40,3): | -8.6860 | |
| ROCnROLL: | 2 | |
| TRIX (15,9): | -1.2400 | |
| Courbe Coppock: | 0.74 |
| MA7: | 3.100 | |
| MA20: | 3.081 | |
| MA50: | 3.009 | |
| MA100: | 3.024 | |
| MAexp7: | 3.048 | |
| MAexp20: | 3.118 | |
| MAexp50: | 4.023 | |
| MAexp100: | 5.034 | |
| Price / MA7: | -6.48% | |
| Price / MA20: | -5.91% | |
| Price / MA50: | -3.66% | |
| Price / MA100: | -4.13% | |
| Price / MAexp7: | -4.89% | |
| Price / MAexp20: | -7.02% | |
| Price / MAexp50: | -27.94% | |
| Price / MAexp100: | -42.41% |
Quotes :
-
10 min delayed data
-
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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