August 13, 2024 14:55 GMT
TTF NATGAS TECHS: (U4) Starts The Week On A Bullish Note
TTF NATGAS TECHS
- RES 4: €46.02 - 1.382 proj of the Oct 13 ‘23 - Feb 23 bear leg (cont)
- RES 3: €44.48 - 1.2369 proj of the Oct 13 ‘23 - Feb 23 bear leg (cont)
- RES 2: €43.20 - 61.8% retracement of the
- RES 1: €42.90 - Intraday high
- PRICE: €39.55 @ 15:54 BST Aug 13
- SUP 1: €36.01- 20-day EMA
- SUP 2: €34.75 - Low Aug 5 and a key short-term support
- SUP 3: €33.00 - Low Jul 29
- SUP 4: €31.45 - Low Jul 11
A short-term bull cycle in TTF Gas futures remains in play. The contract has traded higher Monday, starting the week on a bullish note. Last week’s gains resulted in a break of resistance at €39.55, the Jun 3 high and a bull trigger. The clear breach of this hurdle confirms a resumption of the uptrend that started Feb 23. Sights are on €44.48, a Fibonacci projection. On the downside, initial firm support has been defined at €34.75, the Aug 5 low.
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