Futures Gas Naturale
Short
Aggiornato

Natural gas fluctuated in downtrend channel

217
Natural gas has recently fluctuated in downtrend channel due to high inventory and tepid demand. According to the chart, it is on course to form a head and shoulder pattern in long-term. In my opinion, 2.88 support line(Target 1) will be tested in short-term, if NG breaks through support line, prices likely to head to target 2 or even lower. However, I remain bullish based on fundamental. The spell of hottest weather of a year is just around the corner, and it will help spark buying and push prices higher when cooling demand comes in play.
Trade attivo
Trade chiuso: stop raggiunto
Due to storage projection was below consensus, NG prices spiked and pierced resistant line, which would lead to higher prices. It's in line with fundamental.
Trade chiuso: obiettivo raggiunto
Target 1 reached. close

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