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TTF NATGAS TECHS: (Z4) Trend Condition Remains Bullish

TTF NATGAS TECHS
Commodities TechCommoditiesEnergy BulletsBulletPower BulletsEnergy Technical Analysis
  • RES 4: €51.49 - 1.382 proj of the Sep 19 - Oct 29 -  31 price swing
  • RES 3: €50.00 - Psychological round number  
  • RES 2: €47.77 - 1.00 proj of the Sep 19 - Oct 29 -  31 price swing
  • RES 1: €46.49 - High Nov 14               
  • PRICE: €46.06 @ 13:07 GMT Nov 18
  • SUP 1: €42.56/41.22 - 20- and 50-day EMA values    
  • SUP 2: €38.03 - Low Oct 31 and key support
  • SUP 3: €36.68 - Low Sep 24  
  • SUP 4: €34.41 - Low Sep 19    

TTF Gas futures gapped higher last Thursday, resulting in a clear break of its recent highs and more importantly, it has pierced resistance at €45.83, the Aug 12 high and a key resistance. A clear break of this hurdle would strengthen a bullish theme and open €47.77, a Fibonacci projection. Moving average studies remain in bull-mode set-up, highlighting a dominant uptrend. Initial firm support is seen at €42.56, the 20-day EMA.

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  • RES 4: €51.49 - 1.382 proj of the Sep 19 - Oct 29 -  31 price swing
  • RES 3: €50.00 - Psychological round number  
  • RES 2: €47.77 - 1.00 proj of the Sep 19 - Oct 29 -  31 price swing
  • RES 1: €46.49 - High Nov 14               
  • PRICE: €46.06 @ 13:07 GMT Nov 18
  • SUP 1: €42.56/41.22 - 20- and 50-day EMA values    
  • SUP 2: €38.03 - Low Oct 31 and key support
  • SUP 3: €36.68 - Low Sep 24  
  • SUP 4: €34.41 - Low Sep 19    

TTF Gas futures gapped higher last Thursday, resulting in a clear break of its recent highs and more importantly, it has pierced resistance at €45.83, the Aug 12 high and a key resistance. A clear break of this hurdle would strengthen a bullish theme and open €47.77, a Fibonacci projection. Moving average studies remain in bull-mode set-up, highlighting a dominant uptrend. Initial firm support is seen at €42.56, the 20-day EMA.