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TTF NATGAS TECHS: (V4) Nears September Highs

TTF NATGAS TECHS
Commodities TechCommoditiesEnergy BulletsBulletPower BulletsEnergy Technical Analysis
  • 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: €37.97 - High Sep 26       
  • PRICE: €37.28 @ 12:53 BST Sep 27
  • SUP 1: €32.88/04 - Low Jul 11 and a key support / Low Sep 19     
  • SUP 2: €31.92 - 1.236 proj of the Aug 12 - 26 - 30 price swing
  • SUP 3: €31.56 - Low May 13
  • SUP 4: €30.13 - 1.50 proj of the Aug 12 - 26 - 30 price swing    

TTF Gas futures closed above the 50-day EMA Wednesday, switching the level to support and firming the outlook the longer price stays above that level. This extends the recovery from its recent trend low, however, there remain negative trend signals and short-term gains are considered corrective for now. Support at €32.88, the Jul 11 low, has been pierced.  A clear break of this level would strengthen the bearish theme.   

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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: €37.97 - High Sep 26       
  • PRICE: €37.28 @ 12:53 BST Sep 27
  • SUP 1: €32.88/04 - Low Jul 11 and a key support / Low Sep 19     
  • SUP 2: €31.92 - 1.236 proj of the Aug 12 - 26 - 30 price swing
  • SUP 3: €31.56 - Low May 13
  • SUP 4: €30.13 - 1.50 proj of the Aug 12 - 26 - 30 price swing    

TTF Gas futures closed above the 50-day EMA Wednesday, switching the level to support and firming the outlook the longer price stays above that level. This extends the recovery from its recent trend low, however, there remain negative trend signals and short-term gains are considered corrective for now. Support at €32.88, the Jul 11 low, has been pierced.  A clear break of this level would strengthen the bearish theme.