Quotes of Natural Gas continue to move within the correction and the bullish channel. At the time of publication of the forecast, the price of Natural Gas is 9.07 dollars. Moving averages indicate an uptrend. Prices have gone up from the area between the signal lines, which will indicate pressure from buyers and continued growth from current levels. At the moment, we should expect an attempt to develop a correction and test the support level near the 8.55 area. Further, the continuation of the growth of the gas rate to the area above the level of 11.05.
Natural Gas Forecast and Analysis August 31, 2022
An additional signal in favor of the growth of quotations and prices for Natural Gas will be a test of the trend line on the relative strength index (RSI). The second signal will be a rebound from the lower border of the bullish channel. Cancellation of the option of rising prices for natural gas will be a strong fall and a breakdown of the level of 7.45. This will indicate a breakdown of the support area and a continued fall in quotes to the area below the level of 6.45. Confirmation of the growth of quotations will be a breakdown of the support area and the closing of Natural Gas prices above the level of 10.55, which will indicate a breakdown of the upper limit of the bullish channel.
Natural Gas Forecast and Analysis August 31, 2022 suggests an attempt to correct and test the support level near the 8.55 area. Further, the continued growth of gas prices with a potential target above the level of 11.05. Cancellation of the option of raising the price of natural gas in the near future will be a fall and a breakdown of the level of 7.45. This will indicate a continued decline in quotes to the area below the level of 6.45.
