TTF NATGAS TECHS: (U5) Gains Appear Corrective
Aug-21 12:36
- RES 4: €41.19 - Low Jun 23 and a gap high on the daily chart
- RES 3: €37.83 - High Jun 23 and a gap low on the daily chart
- RES 2: €36.69 - High Jul 14
- RES 1: €32.98/34.36 - Intraday high / 50-day EMA
- PRICE: €32.83 @ 13:25 BST Aug 21
- SUP 1: €30.30 - Low Aug 18
- SUP 2: €30.00 - Psychological round number
- SUP 3: €29.15 - Low May 13 2024 (cont)
- SUP 4: €26.40 - 1.236 proj of the Mar 21 - Apr 30 - Jun 23 price swing
The trend condition in TTF Gas futures is unchanged and remains bearish. The latest recovery appears corrective - for now. Monday’s fresh cycle low reinforces bearish conditions. The contract has breached €31.83, the Apr 30 low, strengthening the M/T bearish condition. This opens the psychological €30.00 handle next. Initial firm resistance to watch is the 50-day EMA at €34.26, where a clear break is required to signal a possible reversal.
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