NEWS: Natural Gas price increased 2.3%. Natural Gas prices are rising, as Europe is anticipated to have colder temperatures than initially expected, causing a demand spike for the commodity.
Possible Scenarios:
If Natural Gas fails to breach through R1 of 7.194, our Research Department expects the Natural Gas to undergo a short- term downward correction.
If Natural Gas manages to break above its R1 of 7.194, our Research Department expects the Natural Gas to extend its gains to its R2 of 7.321.
Support and Resistance Levels:
Natural Gas |
S3 |
S2 |
S1 |
Reference Price |
R1 |
R2 |
R3 |
6.602 |
6.729 |
6.856 |
7.025 |
7.194 |
7.321 |
7.448 |
Potential Profit or Potential Loss Calculations:
10 cents per 1 trading lot* |
USD |
EUR** |
GBP*** |
||
(+/-) $100 |
(+/-) €95.4 |
(+/-) £81.86 |
*1 trading lot is equivalent of 10000 units
**EUR/USD = 1.04820
***GBP/USD = 1.22160
Calculations for exchange rate used as of 13:40 (GMT) 01/12/2022