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(U4) Short-Term Bull Cycle Remains In Play

TTF NATGAS TECHS
  • RES 4: €40.00 - Psychological round number
  • RES 3: €39.55 - High Jun 3 and the bull trigger
  • RES 2: €37.64 - 76.4% retracement of the Jun 3 - Jul 11 bear leg
  • RES 1: €37.15 - High Aug 2
  • PRICE: $36.34 @ 14:31 BST Aug 6
  • SUP 1: €34.75 - Low Aug 5
  • SUP 2: €34.03 - 50-day EMA
  • SUP 3: €33.00 - Low Jul 29
  • SUP 4: €31.45 - Low Jul 11
A short-term bull cycle in TTF Gas futures remains in play and the contract is trading at its recent highs. A break of initial resistance at €37.15, the Aug 2 high, would signal scope for a continuation and this would open €37.64, a Fibonacci retracement point, ahead of €39.55, the Jun 3 high and bull trigger. On the downside, initial firm support lies at €34.03, the 50-day EMA. A clear breach of this level would instead highlight a potential short-term reversal.

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