Natural Gas ends the trading week at 3.64 and continues to move as part of the fall. Moving averages indicate an uptrend. At the moment, we should expect the continuation of the fall and the test of the support area near the level 3.40. Where can we expect a rebound again and an attempt to continue the growth of the Natural Gas rate with a potential target above level 4.25.
Natural Gas forecast for the week December 24 — 28, 2018
In favor of the growth of quotations of Natural Gas in the current trading week December 24 — 28, 2018, a test of a rising trend line on the relative strength index (RSI) will be made. As well as a rebound from the lower boundary of the rising channel. Cancellation of growth options Natural Gas will fall and the breakdown of the area 3.15. This will indicate a breakdown of the lower boundary of the channel and the continuation of the fall of Natural Gas with a potential target below level 2.75. Confirmation of the development of an upward trend will be the breakdown of the resistance area and the closing of quotes above the level of 3.95.
Natural Gas forecast for the week December 24 — 28, 2018 implies an attempt to test the support area near the 3.40 level. Then the continuation of the growth of the instrument in the region below the level 4.25. An additional signal in favor of raising the Natural Gas rate will be the test of the support line on the relative strength index (RSI). The abolition of the growth option Natural Gas will make the fall and the breakdown of the area 3.15. In this case, we should expect a further decline.