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TTF NATGAS TECHS: (G5) Key Short-Term Support Is Intact

TTF NATGAS TECHS
Commodities TechCommoditiesEnergy BulletsBulletPower BulletsEnergy Technical Analysis
  • RES 4: €53.31 - 1.236 proj of the Oct 31 - Nov 22 - Dec 16 swing
  • RES 3: €52.00 - Round number resistance 
  • RES 2: €51.00 - High Jan 6 and the bull trigger 
  • RES 1: €48.72 - High Jan 14                     
  • PRICE: €46.97 @ 13:12 GMT Jan 17
  • SUP 1: €45.44/43.18 - 50-day EMA / Low Jan 10 and a key support     
  • SUP 2: €42.95 - Low Dec 20 
  • SUP 3: €41.95 - 76.4% retracement of the Dec 16 - Jan 2 rally
  • SUP 4: €39.16 - Low Dec 16 and a key support

A bull cycle in TTF Gas futures remains intact and the strong bounce from the Jan 10 low, indicates that the Jan 2 - 10 correction is over. The recovery has defined a key short-term support at €43.18, the Jan 10 low. A resumption of gains would refocus attention on €51.00, the Jan 2 high and a short-term bull trigger. On the downside, clearance of €43.18, would reinstate a bearish theme.

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  • RES 4: €53.31 - 1.236 proj of the Oct 31 - Nov 22 - Dec 16 swing
  • RES 3: €52.00 - Round number resistance 
  • RES 2: €51.00 - High Jan 6 and the bull trigger 
  • RES 1: €48.72 - High Jan 14                     
  • PRICE: €46.97 @ 13:12 GMT Jan 17
  • SUP 1: €45.44/43.18 - 50-day EMA / Low Jan 10 and a key support     
  • SUP 2: €42.95 - Low Dec 20 
  • SUP 3: €41.95 - 76.4% retracement of the Dec 16 - Jan 2 rally
  • SUP 4: €39.16 - Low Dec 16 and a key support

A bull cycle in TTF Gas futures remains intact and the strong bounce from the Jan 10 low, indicates that the Jan 2 - 10 correction is over. The recovery has defined a key short-term support at €43.18, the Jan 10 low. A resumption of gains would refocus attention on €51.00, the Jan 2 high and a short-term bull trigger. On the downside, clearance of €43.18, would reinstate a bearish theme.