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TTF NATGAS TECHS: (U4) Starts The Week On A Bullish Note

TTF NATGAS TECHS
BulletEnergy Technical Analysis
  • 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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  • 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.