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TTF NATGAS TECHS: (U4) Trend Needle Continues To Point North

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 - High Aug 14      
  • PRICE: €39.44 @ 13:13 BST Aug 20
  • SUP 1: €37.61- 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   

TTF Gas futures are in consolidation mode. A short-term bull cycle remains in place and the latest pullback appears to have been a correction. The contract traded to a fresh trend high last week, reinforcing current conditions. Resistance at €39.55, the Jun 3 high, has been cleared and this confirms a resumption of the uptrend that started Feb 23. Sights are on €44.48, a Fibonacci projection. Initial firm support lies at €34.75, the Aug 5 low. 

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