Quotes of natural gas are traded at the level of 3.23. At the moment, quotes have left the limits of the rising channel and there is a potential for the rebound and fall of quotations in the area below the level of 2.98. In favor of the fall is the formation of the reversal Forex Head and Shoulder models, which indicates a drop already from the current levels.
Natural Gas Forecast on April 17, 2017
An additional signal will be a tight test of the descending line of resistance on the indicator of relative strength. Expect to accelerate the fall in quotations of natural gas costs with the break of the level of the line of the neck with the closing below the level of 3.14.
The cancellation of the option of lowering quotations will result in a strong growth and breakdown of the local maximum area, which will indicate the continued growth of gas prices.
Natural Gas Forecast on April 17, 2017 involves an attempt to fall as part of the start of the development of the forex head and shoulder models with a potential target near the area of 2.98.
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