empty
07.08.2024 05:58 AM
Technical Analysis of Intraday Price Movement of Natural Gas Commodity Asset, Wednesday August 07, 2024.

This image is no longer relevant

Although currently the natural gas commodity asset is weakening, which is indicated by its price movement moving harmoniously within the Bearish Pitchfork channel and its price movement moving below the EMA 20 & EMA 50, however, with the appearance of a deviation pattern between the price movement and the Momentum indicator, it gives an indication that in the near future there will be a strengthening correction in #NG where the level of 2,147 will try to be broken upwards if successful then #NG will continue its strengthening correction to the level of 22.68 as its main target and 2,439 as the next target if momentum and volatility support it, however if on its way to the target levels suddenly #NG returns to its initial bias, especially if it breaks down below the level of 1,855, then all strengthening correction scenarios that have been described previously will become invalid and canceled by themselves.

(Disclaimer)

Select timeframe
5
min
15
min
30
min
1
hour
4
hours
1
day
1
week
Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST

Recommended Stories

Forecast for GBP/USD on July 9, 2025

On the hourly chart, the GBP/USD pair fell on Tuesday to the 127.2% Fibonacci level at 1.3527, rebounded from it, and turned in favor of the pound. This may signal

Samir Klishi 11:05 2025-07-09 UTC+2

Can 0.7939 withstand the temporary correction of the USD/CHF currency pair, Wednesday, July 9, 2025?

USD/CHF – Wednesday, July 9, 2025. Due to the USD's safe-haven support and global trade risks, although the CHF is quite strong, these conditions still have the potential to cause

Arief Makmur 07:12 2025-07-09 UTC+2

Sellers continue to dominate the NZD/USD commodity currency pair, Wednesday, July 9, 2025.

NZD/USD, Wednesday, July 9, 2025. Global risk sentiment regarding commodity currencies and New Zealand's cautious monetary outlook are putting pressure on the Kiwi's potential today. Key Levels 1. Resistance

Arief Makmur 07:12 2025-07-09 UTC+2

EUR/USD Forecast for July 9, 2025

On Tuesday, the euro attempted a downward move but failed to reach support at the MACD line, stopping at the target level of 1.1692. The day closed with a white

Laurie Bailey 06:58 2025-07-09 UTC+2

GBP/USD Forecast for July 9, 2025

Yesterday, the British pound tested the area around the daily balance line. This move revealed the weakness of support levels on the path toward the target level of 1.3414, which

Laurie Bailey 06:30 2025-07-09 UTC+2

USD/JPY Forecast for July 9, 2025

USD/JPYThe USD/JPY pair appears to be completing the formation of a triangle. There are several possible scenarios. According to the main scenario, the pair is likely to test the upper

Laurie Bailey 06:25 2025-07-09 UTC+2

Trading Signals for EUR/USD for July 8-12, 2025: buy above 1.1650 (21 SMA - 8/8 Murray)

The eagle indicator has reached oversold levels, so we believe the euro could recover above 1.1680 in the coming hours and then reach 1.1718, where the 8/8 Murray is located

Dimitrios Zappas 18:58 2025-07-08 UTC+2

Trading Signals for GOLD (XAU/USD) for July 8-12, 2025: buy above $3,285 (21 SMA - 4/8 Murray)

If a break below 3,281 occurs, we could expect a bearish acceleration, and gold could reach the 3/8 Murray level at 3,242 and ultimately reach the bottom of the main

Dimitrios Zappas 18:56 2025-07-08 UTC+2

AUD/JPY. Analysis and Forecast

On Tuesday, the AUD/JPY pair showed confident growth, reaching a nearly four-month high following the Reserve Bank of Australia's (RBA) unexpected decision to keep interest rates unchanged. At the same

Irina Yanina 12:41 2025-07-08 UTC+2

Forecast for EUR/USD on July 8, 2025

On Monday, the EUR/USD pair continued a mild downward movement. After reaching the 127.2% retracement level at 1.1712, the pair neither rebounded nor consolidated. Therefore, the 1.1712 level should

Samir Klishi 12:24 2025-07-08 UTC+2
Can't speak right now?
Ask your question in the chat.
Widget callback
 

Dear visitor,

Your IP address shows that you are currently located in the USA. If you are a resident of the United States, you are prohibited from using the services of InstaFintech Group including online trading, online transfers, deposit/withdrawal of funds, etc.

If you think you are seeing this message by mistake and your location is not the US, kindly proceed to the website. Otherwise, you must leave the website in order to comply with government restrictions.

Why does your IP address show your location as the USA?

  • - you are using a VPN provided by a hosting company based in the United States;
  • - your IP does not have proper WHOIS records;
  • - an error occurred in the WHOIS geolocation database.

Please confirm whether you are a US resident or not by clicking the relevant button below. If you choose the wrong option, being a US resident, you will not be able to open an account with InstaForex anyway.

We are sorry for any inconvenience caused by this message.