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TTF NATGAS TECHS: (H5) Corrective Pullback

TTF NATGAS TECHS
Commodities TechCommoditiesEnergy BulletsBulletPower BulletsEnergy Technical Analysis
  • RES 4: €61.73 - 2.00 proj of the Oct 31 - Nov 22 - Dec 16 swing  
  • RES 3: €60.00 - Round number resistance
  • RES 2: €59.39 - High Feb 11 and the bull trigger
  • RES 1: €54.56 - Intraday high 
  • PRICE: €51.25 @ 13:17 GMT Feb 13
  • SUP 1: €50.50 - Intraday low      
  • SUP 2: €48.88 - 50-day EMA 
  • SUP 3: €43.32 - Low Jan 10 
  • SUP 4: €39.06 - Low Dec 16 and a key support

A bull cycle in TTF Gas futures remains intact. However, the latest pullback and today’s strong sell-off, highlight a corrective phase. The contract has traded through the 20-day EMA and attention turns to pivot support at the 50-day EMA - at €49.15. A clear break of this average would undermine a bullish theme and signal scope for a deeper retracement. Key resistance and the bull trigger has been defined at €59.39, the Feb 11 high.

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  • RES 4: €61.73 - 2.00 proj of the Oct 31 - Nov 22 - Dec 16 swing  
  • RES 3: €60.00 - Round number resistance
  • RES 2: €59.39 - High Feb 11 and the bull trigger
  • RES 1: €54.56 - Intraday high 
  • PRICE: €51.25 @ 13:17 GMT Feb 13
  • SUP 1: €50.50 - Intraday low      
  • SUP 2: €48.88 - 50-day EMA 
  • SUP 3: €43.32 - Low Jan 10 
  • SUP 4: €39.06 - Low Dec 16 and a key support

A bull cycle in TTF Gas futures remains intact. However, the latest pullback and today’s strong sell-off, highlight a corrective phase. The contract has traded through the 20-day EMA and attention turns to pivot support at the 50-day EMA - at €49.15. A clear break of this average would undermine a bullish theme and signal scope for a deeper retracement. Key resistance and the bull trigger has been defined at €59.39, the Feb 11 high.