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TTF NATGAS TECHS: (X4) Bullish Trend Structure 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: €39.52 @ 13:00 BST Oct 15
  • 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     

A bullish theme in TTF Gas Futures remains intact and the recent pullback is considered corrective. The contract has recently traded through the 50-day EMA, a bullish development. A resumption of gains would open €41.92, the Aug 28 high. For bears, a stronger move lower would refocus attention on key support at €33.65, the Sep 19 low. Initial support is €37.40, the Oct 1 low, where a break would be seen as an early reversal signal.

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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: €39.52 @ 13:00 BST Oct 15
  • 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     

A bullish theme in TTF Gas Futures remains intact and the recent pullback is considered corrective. The contract has recently traded through the 50-day EMA, a bullish development. A resumption of gains would open €41.92, the Aug 28 high. For bears, a stronger move lower would refocus attention on key support at €33.65, the Sep 19 low. Initial support is €37.40, the Oct 1 low, where a break would be seen as an early reversal signal.