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TTF NATGAS TECHS: (F5) Bounce Extends

TTF NATGAS TECHS
Commodities TechCommoditiesEnergy BulletsBulletPower BulletsEnergy Technical Analysis
  • RES 4: €49.86 - High Nov 22 and a key resistance
  • RES 3: €49.32 - High Dec 2   
  • RES 2: €47.27 - 76.4% retracement of the Nov 22 - Dec 16 bear leg
  • RES 1: €45.67 - 61.8% retracement of the Nov 22 - Dec 16 bear leg                  
  • PRICE: €45.22 @ 13:27 GMT Dec 23
  • SUP 1: €38.89/37 - Low Dec 16 / 76.4% of Sep 19 - Nov 22 climb 
  • SUP 2: €38.32 - Low Oct 31 and key near-term support 
  • SUP 3: €36.21 - Low Sep 20 
  • SUP 4: €34.82 - Low Sep 19 and key support  

TTF Gas futures are trading higher today as the contract extends the recovery that started on Dec 16. This move undermines the recent bearish theme. Price has traded through both the 20- and 50-day EMAs. A continuation higher would expose €47.27, a Fibonacci retracement point. Clearance of this level would signal scope for a climb towards €49.86, the Nov 22 high and key resistance. Key support is at €38.89, the Dec 16 low. 

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  • RES 4: €49.86 - High Nov 22 and a key resistance
  • RES 3: €49.32 - High Dec 2   
  • RES 2: €47.27 - 76.4% retracement of the Nov 22 - Dec 16 bear leg
  • RES 1: €45.67 - 61.8% retracement of the Nov 22 - Dec 16 bear leg                  
  • PRICE: €45.22 @ 13:27 GMT Dec 23
  • SUP 1: €38.89/37 - Low Dec 16 / 76.4% of Sep 19 - Nov 22 climb 
  • SUP 2: €38.32 - Low Oct 31 and key near-term support 
  • SUP 3: €36.21 - Low Sep 20 
  • SUP 4: €34.82 - Low Sep 19 and key support  

TTF Gas futures are trading higher today as the contract extends the recovery that started on Dec 16. This move undermines the recent bearish theme. Price has traded through both the 20- and 50-day EMAs. A continuation higher would expose €47.27, a Fibonacci retracement point. Clearance of this level would signal scope for a climb towards €49.86, the Nov 22 high and key resistance. Key support is at €38.89, the Dec 16 low.