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TTF NATGAS TECHS: (H5) Trend Needle Points North

TTF NATGAS TECHS
Commodities TechCommoditiesEnergy BulletsBulletPower BulletsEnergy Technical Analysis
  • RES 4: €58.00 - Round number resistance  
  • RES 3: €57.40 - 1.618 proj of the Oct 31 - Nov 22 - Dec 16 swing
  • RES 2: €56.05 - 1.500 proj of the Oct 31 - Nov 22 - Dec 16 swing
  • RES 1: €54.81 - Intraday high                     
  • PRICE: €53.45 @ 13:24 GMT Feb 3
  • SUP 1: €50.80/47.64 - High Jan 22 / Low Jan 27     
  • SUP 2: €46.84 - 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 is intact and the contract has again traded to a fresh cycle high, today. The recovery from the Jan 10 low, highlights the fact that the move down between Jan 2 - 10, was a correction. Price has traded through resistance at €50.75, the Jan 2 high and a bull trigger, to confirm a resumption of the uptrend. This opens €56.06 next, a Fibonacci projection. Key short-term support lies at €47.64, the Jan 27 low. 

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  • RES 4: €58.00 - Round number resistance  
  • RES 3: €57.40 - 1.618 proj of the Oct 31 - Nov 22 - Dec 16 swing
  • RES 2: €56.05 - 1.500 proj of the Oct 31 - Nov 22 - Dec 16 swing
  • RES 1: €54.81 - Intraday high                     
  • PRICE: €53.45 @ 13:24 GMT Feb 3
  • SUP 1: €50.80/47.64 - High Jan 22 / Low Jan 27     
  • SUP 2: €46.84 - 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 is intact and the contract has again traded to a fresh cycle high, today. The recovery from the Jan 10 low, highlights the fact that the move down between Jan 2 - 10, was a correction. Price has traded through resistance at €50.75, the Jan 2 high and a bull trigger, to confirm a resumption of the uptrend. This opens €56.06 next, a Fibonacci projection. Key short-term support lies at €47.64, the Jan 27 low.