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TTF NATGAS TECHS: (V4) Bear Trend Remains Intact

TTF NATGAS TECHS
Energy BulletsBulletPower BulletsEnergy Technical AnalysisCommodities
  • RES 4: €43.52 - High Aug 12 and the bull trigger 
  • RES 3: €41.20 - High Aug 13 / 19
  • RES 2: €40.33 - High Aug 30 and a key resistance
  • RES 1: €36.86/37.90 - 50-day EMA / High Sep 10       
  • PRICE: €34.85 @ 13:11 BST Sep 17
  • SUP 1: €33.81 - Intraday low      
  • SUP 2: €32.88 - Low Jul 11 and a key support
  • SUP 3: €31.92 - 1.236 proj of the Aug 12 - 26 - 30 price swing
  • SUP 4: €31.56 - Low May 13    

A bearish theme in TTF Gas futures remains intact. The contract traded lower Monday, confirming an extension of the bear cycle that started Aug 12. The move down signals scope for a move towards €32.88, the Jul 11 low.  A break of this level would strengthen the current bearish theme. On the upside, firm short-term resistance is seen at  €37.90, the Sep 10 high. For now, gains would be considered corrective.

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  • RES 4: €43.52 - High Aug 12 and the bull trigger 
  • RES 3: €41.20 - High Aug 13 / 19
  • RES 2: €40.33 - High Aug 30 and a key resistance
  • RES 1: €36.86/37.90 - 50-day EMA / High Sep 10       
  • PRICE: €34.85 @ 13:11 BST Sep 17
  • SUP 1: €33.81 - Intraday low      
  • SUP 2: €32.88 - Low Jul 11 and a key support
  • SUP 3: €31.92 - 1.236 proj of the Aug 12 - 26 - 30 price swing
  • SUP 4: €31.56 - Low May 13    

A bearish theme in TTF Gas futures remains intact. The contract traded lower Monday, confirming an extension of the bear cycle that started Aug 12. The move down signals scope for a move towards €32.88, the Jul 11 low.  A break of this level would strengthen the current bearish theme. On the upside, firm short-term resistance is seen at  €37.90, the Sep 10 high. For now, gains would be considered corrective.