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TTF NATGAS TECHS: (V4) Trend Direction Remains Down

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: €36.80/37.90 - 50-day EMA / High Sep 10       
  • PRICE: €34.85 @ 13:06 BST Sep 18
  • SUP 1: €33.81 - Low Sep 17      
  • 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    

The current trend direction in TTF Gas futures remains down. Recent fresh lows confirming an extension of the bear cycle that started Aug 12. The move down signals scope for a test of €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 are 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: €36.80/37.90 - 50-day EMA / High Sep 10       
  • PRICE: €34.85 @ 13:06 BST Sep 18
  • SUP 1: €33.81 - Low Sep 17      
  • 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    

The current trend direction in TTF Gas futures remains down. Recent fresh lows confirming an extension of the bear cycle that started Aug 12. The move down signals scope for a test of €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 are considered corrective.