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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 and a short-term bull trigger          
  • PRICE: €40.52 @ 14:46 BST Oct 11
  • SUP 1: €37.40/35.68 - Low Oct 1 / Low Sep 23     
  • 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 breached the 50-day EMA, a bullish development. A resumption of gains would open €41.92, a Fibonacci retracement. The latest pullback appears to be corrective, however, a stronger reversal would refocus attention on key support at €33.65, Sep 19 low. Initial support is €37.40, Oct 1 low.

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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 and a short-term bull trigger          
  • PRICE: €40.52 @ 14:46 BST Oct 11
  • SUP 1: €37.40/35.68 - Low Oct 1 / Low Sep 23     
  • 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 breached the 50-day EMA, a bullish development. A resumption of gains would open €41.92, a Fibonacci retracement. The latest pullback appears to be corrective, however, a stronger reversal would refocus attention on key support at €33.65, Sep 19 low. Initial support is €37.40, Oct 1 low.