NEWS: Natural Gas price is falling 4.3%. Natural Gas prices are falling as the market sells-off as recession fears put negative pressure on potential demand.
Possible Scenarios:
If Natural Gas fails to breach through S2 of 2.341, our Research Department expects the Natural Gas to undergo a short- term upward correction.
If Natural Gas manages to break below its S2 of 2.341, our Research Department expects the Natural Gas to extend its losses to its S3 of 2.286.
Support and Resistance Levels:
Natural Gas |
S3 |
S2 |
S1 |
Reference Price |
R1 |
R2 |
R3 |
2.286 |
2.341 |
2.396 |
2.470 |
2.544 |
2.599 |
2.654 |
Potential Profit or Potential Loss Calculations:
10 cents per 1 trading lot* |
USD |
EUR** |
GBP*** |
||
(+/-) $100 |
(+/-) €93.29 |
(+/-) £81.63 |
*1 trading lot is equivalent of 10000 units
**EUR/USD = 1.07227
***GBP/USD = 1.22549
Calculations for exchange rate used as of Monday, March 20, 2023, GMT 14:00h