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TTF NATGAS TECHS: (X4) Remains Above The 50-Day EMA

TTF NATGAS TECHS
Commodities TechCommoditiesEnergy BulletsBulletPower BulletsEnergy Technical Analysis
  • RES 4: €41.92 - High Aug 28  
  • RES 3: €40.79 - 61.8% retracement of the Aug 12 - Sep 19 bear leg  
  • RES 2: €40.25 - High Sep 3  
  • RES 1: €39.50 - Intraday high        
  • PRICE: €38.78 @ 13:23 BST Sep 30
  • SUP 1: €36.05 - Low Sep 24     
  • 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 have traded higher today and the contract remains above the 50-day EMA, at  €38.38. The latest recovery does undermine the recent bearish theme. A continuation higher would strengthen a bullish theme and open €40.79, a Fibonacci retracement. On the downside, a reversal lower would refocus attention on key support at €33.65, the Sep 19 low. Clearance of this level would reinstate a bearish theme. 

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  • RES 4: €41.92 - High Aug 28  
  • RES 3: €40.79 - 61.8% retracement of the Aug 12 - Sep 19 bear leg  
  • RES 2: €40.25 - High Sep 3  
  • RES 1: €39.50 - Intraday high        
  • PRICE: €38.78 @ 13:23 BST Sep 30
  • SUP 1: €36.05 - Low Sep 24     
  • 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 have traded higher today and the contract remains above the 50-day EMA, at  €38.38. The latest recovery does undermine the recent bearish theme. A continuation higher would strengthen a bullish theme and open €40.79, a Fibonacci retracement. On the downside, a reversal lower would refocus attention on key support at €33.65, the Sep 19 low. Clearance of this level would reinstate a bearish theme.