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TTF NATGAS TECHS: (G5) Trend Outlook Remains Bullish

TTF NATGAS TECHS
Commodities TechCommoditiesEnergy BulletsBulletPower BulletsEnergy Technical Analysis
  • RES 4: €54.98 - 1.382 proj of the Oct 31 - Nov 22 - Dec 16 swing
  • RES 3: €53.31 - 1.236 proj of the Oct 31 - Nov 22 - Dec 16 swing
  • RES 2: €52.00 - Round number resistance
  • RES 1: €51.00 - High Jan 6 and the bull trigger                    
  • PRICE: €48.450 @ 13:11 GMT Jan 28
  • SUP 1: €46.22/43.18 - 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 is intact and the strong bounce from the Jan 10 low, continues to highlight the fact that the correction between Jan 2 - 10 is over. The latest pullback is considered corrective. A key short-term support lies at €43.18, the Jan 10 low and attention is on €51.00, the Jan 2 high and a bull trigger. A break of this hurdle would confirm a resumption of the uptrend. On the downside, clearance of €43.18, would reinstate a bearish threat.

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  • RES 4: €54.98 - 1.382 proj of the Oct 31 - Nov 22 - Dec 16 swing
  • RES 3: €53.31 - 1.236 proj of the Oct 31 - Nov 22 - Dec 16 swing
  • RES 2: €52.00 - Round number resistance
  • RES 1: €51.00 - High Jan 6 and the bull trigger                    
  • PRICE: €48.450 @ 13:11 GMT Jan 28
  • SUP 1: €46.22/43.18 - 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 is intact and the strong bounce from the Jan 10 low, continues to highlight the fact that the correction between Jan 2 - 10 is over. The latest pullback is considered corrective. A key short-term support lies at €43.18, the Jan 10 low and attention is on €51.00, the Jan 2 high and a bull trigger. A break of this hurdle would confirm a resumption of the uptrend. On the downside, clearance of €43.18, would reinstate a bearish threat.