Gas prices complete the trading week near level 2.79. NGAS is trading below the lower limit of the Ichimoku Kinko Hyo Cloud. This indicates a bearish trend in Natural Gas. A test of the lower border of the Ichimoku Kinko Hyo Cloud is expected near level 2.90. Where should we expect an attempt to rebound and the continuation of falling prices with a goal near the level of 2.15.
Natural Gas weekly forecast March 4 — 8, 2019
An additional signal in favor of reducing the price of gas in the current trading week March 4 — 8, 2018 will be a test of the level of support. The second signal will be a rebound from the upper boundary of the downward channel. Earlier, a strong signal was received for SELL the Natural Gas. The signal was formed due to the intersection of signal lines at the level of 4.15.
Cancellation of the option of falling prices and gas prices will be the breakdown of the border of Ichimoku Kinko Hyo Cloud with the closing of quotes above area 3.75. This will indicate a change in the downward trend in favor of the upward trend and continued growth. Expect to accelerate the fall of quotations Natural Gas stands with the breakdown of the support area and closing below 2.50.
Natural Gas weekly forecast March 4 — 8, 2019 implies an attempt to test the resistance level level near the area 2.90. Where can we expect a rebound and the continuation of the decline of the currency pair with a potential target near the level of 2.15. Cancellation of the option of falling quotations will make a strong growth and the breakdown of the area 3.75. This will indicate continued growth in Gas prices.