NEWS: Natural Gas price is rising 3.20% on reports of rising natural gas exports from the US.
Possible Scenarios:
If Natural Gas fails to break above Resistance 1 of 2.194, our Research Department expects Natural Gas to undergo a short- term downward correction.
If Natural Gas manages to break above Resistance 1 of 2.194, our Research Department expects Natural Gas to extend its gains to its Resistance 2 of 2.230.
Support and Resistance Levels:
Natural Gas |
S3 |
S2 |
S1 |
Reference Price |
R1 |
R2 |
R3 |
2.025 |
2.062 |
2.098 |
2.146 |
2.194 |
2.230 |
2.267 |
Potential Profit or Potential Loss Calculations:
1 cent per 1 trading lot* |
USD |
EUR** |
GBP*** |
(+/-)100$ |
(+/-)92.71€ |
(+/-)79.43£ |
* 1 trading lot is equivalent of 10000 units
** EUR/USD = 1.07857
***GBP/USD= 1.25882
Calculations for exchange rate used as of 13:50 (GMT+1) 06/05/2024