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 |
|
4.50 |
|
3.60 |
|
2.65 |
|
1.70 |
|
1.65 |
|
1.60 |
Example of calculation based on weekly trend direction for 1 Lot1
Pivot Points |
||||||
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