CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 77% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 77% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

Natural Gas

Special Reports - 08/02/2024

08 February, 2024

The example below uses Contracts For Difference (CFDs). Calculations are only on the price of the specific instrument on the date below and calculations indicate a possible profit or loss. No representation or warranty is given as to the accuracy or completeness of this information, consequently any person acting on it does so entirely at their own risk.

Natural Gas weekly special report based On 1 Lot Calculation:

FUNDAMENTAL FACTORS:

  • GEOPOLITICAL TENSIONS: Fears are rising as the current tensions in the Middle-East could affect liquefied natural gas shipments (LNG) to Europe. Qatar is a major supplier of LNG to the EU and the third largest LNG exporter in the world after the US and Australia.

EVENT: NatGasWeather forecast colder weather in the second part of February, which should boost demand for natural gas.

PRICE ACTION:

  • Natural Gas has undergone a downward correction of around ~80% since August 23, 2022. Natural gas traded last around $1.97, the lowest since 2020 and below the strong support at $2. If a full recovery followed, that could imply an upside of around 406%. However, the price could decline further.

Since 2000 the price fell near or below $2 six times and within a month recovered on average 43.93%.

Please note that past performance does not guarantee future results.

Source: MT4

Source: MT4

Please note that past performance does not guarantee future results.

NATURAL GAS, February 8, 2024
Current Price: 1.98

NATURAL GAS

Weekly

Trend direction

UP

Resistance 3

4.50

Resistance 2

3.60

Resistance 1

2.65

Support 1

1.70

Support 2

1.65

Support 3

1.60

Example of calculation based on weekly trend direction for 1 Lot1

Pivot Points

Resistance 3

Resistance 2

Resistance 1

Support 1

Support 2

Support 3

Profit or loss in $

25,180.00

16,180.00

6,680.00

-2,820.00

-3,320.00

-3,820.00

Profit or loss in €²

23,396.64

15,034.06

6,206.89

-2,620.27

-3,084.86

-3,549.45

Profit or loss in £²

19,980.40

12,838.88

5,300.60

-2,237.68

-2,634.43

-3,031.18

Profit or loss in C$²

33,935.59

21,806.11

9,002.77

-3,800.57

-4,474.43

-5,148.29

1. 1 lot is equivalent of 10,000 units
2. Calculations for exchange rate used as of 12:30 (GMT+1) 08/02/2024
Fortrade recommends the use of Stop-Loss and Take-Profit, please speak to your Senior Account ManagerClient Manager regarding their use.

· You may wish to consider closing your position in profit, even if it is lower than suggested one

· Trailing stop technique can protect the profit – Ask your Senior Account ManagerClient Manager for more details

Share It With Your Network
NATURAL GAS Chart
Update Time: -
Highest
Lowest
1M 5M H D W
Prices are loading..
Ready for trading?Start Now