NEWS: Natural Gas price increased 2.6%. Natural gas price is rising as Europe’s weather forecast is expected to be colder than originally forecast, causing demand spikes for the commodity.
Possible Scenarios:
If Natural Gas fails to breach through R1 of 7.828, our Research Department expects the Natural Gas to undergo a short- term downward correction.
If Natural Gas manages to break above its R1 of 7.828, our Research Department expects the Natural Gas to extend its gains to its R2 of 7.995.
Support and Resistance Levels:
Natural Gas |
S3 |
S2 |
S1 |
Reference Price |
R1 |
R2 |
R3 |
7.050 |
7.217 |
7.384 |
7.606 |
7.828 |
7.995 |
8.162 |
Potential Profit or Potential Loss Calculations:
10 cents per 1 trading lot* |
USD |
EUR** |
GBP*** |
||
(+/-) $100 |
(+/-) €96.25 |
(+/-) £82.75 |
*1 trading lot is equivalent of 10000 units
**EUR/USD = 1.03897
***GBP/USD = 1.20847
Calculations for exchange rate used as of 12:00 (GMT) 25/11/2022