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TTF NATGAS TECHS: (X4) Bull Cycle Intact

TTF NATGAS TECHS
Commodities TechCommoditiesEnergy BulletsBulletPower BulletsEnergy Technical Analysis
  • RES 4: €43.31 - High Aug 19 
  • RES 3: €42.47 - 76.4% retracement of the Aug 12 - Sep 19 bear leg  
  • RES 2: €41.92 - High Aug 28
  • RES 1: €41.18 - High Oct 4         
  • PRICE: €40.42 @ 13:13 BST Oct 7
  • SUP 1: €37.40/36.68 - Low Oct 1 / Low Sep 25     
  • SUP 2: €33.65 - Low Sep 19 and the bear trigger 
  • SUP 3: €32.77 - Low Apr 29
  • SUP 4: €32.00 - Round number support     

TTF Gas futures traded to a fresh short-term trend high last week, reinforcing a bullish theme. The contract has also recently traded through the 50-day EMA, a bullish development. A continuation higher would strengthen a bullish condition and open €41.92, a Fibonacci retracement. On the downside, a reversal lower would refocus attention on key support at €33.65, Sep 19 low. Initial support lies at £37.40.

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  • RES 4: €43.31 - High Aug 19 
  • RES 3: €42.47 - 76.4% retracement of the Aug 12 - Sep 19 bear leg  
  • RES 2: €41.92 - High Aug 28
  • RES 1: €41.18 - High Oct 4         
  • PRICE: €40.42 @ 13:13 BST Oct 7
  • SUP 1: €37.40/36.68 - Low Oct 1 / Low Sep 25     
  • SUP 2: €33.65 - Low Sep 19 and the bear trigger 
  • SUP 3: €32.77 - Low Apr 29
  • SUP 4: €32.00 - Round number support     

TTF Gas futures traded to a fresh short-term trend high last week, reinforcing a bullish theme. The contract has also recently traded through the 50-day EMA, a bullish development. A continuation higher would strengthen a bullish condition and open €41.92, a Fibonacci retracement. On the downside, a reversal lower would refocus attention on key support at €33.65, Sep 19 low. Initial support lies at £37.40.