0

Notifications

Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events

0

Economic Calendar

Economic Calendar Events

0
Free Trading Guides
EUR/USD
Bearish
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
Oil - US Crude
Mixed
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
Wall Street
Bullish
Gold
Bearish
GBP/USD
Mixed
USD/JPY
Mixed
More View more
Real Time News
  • Commodities Update: As of 18:00, these are your best and worst performers based on the London trading schedule: Silver: 5.25% Gold: 0.99% Oil - US Crude: 0.33% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/gpka4HBCay
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 96.03%, while traders in US 500 are at opposite extremes with 76.79%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/FfFR6kxBCO
  • Ahead of the RBNZ rate decision next week, the New Zealand Dollar has struggled to climb higher against its major counterparts, with the exception of the US Dollar. Get your market update from @JMcQueenFX here:https://t.co/iZxV2qSVrw https://t.co/CGE3WeJ3Yl
  • U.S. State Department lifts travel advisory for all international travel - BBG
  • Indices Update: As of 18:00, these are your best and worst performers based on the London trading schedule: US 500: 0.21% Wall Street: 0.20% France 40: 0.10% Germany 30: 0.06% FTSE 100: 0.03% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/uCGMUoQfxx
  • Senator Collins 'still optimistic' on stimulus deal - BBG
  • Update on #Cryptocurrencies #BITCOIN +1.33% #BITCOINCASH +5.60% #ETHEREUM -0.07% #RIPPLE +1.08% #LITECOIN +1.63%
  • https://t.co/A8Ywz4dGqr
  • Emerging Markets: Volatility is rife within the EM complex following the heavy selling in the Turkish Lira, having blown past the 7.0000 handle. Get your $XAG market update from @JMcQueenFX here: https://t.co/SIfXngFsR8 https://t.co/uDh1sdNfkn
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 96.13%, while traders in US 500 are at opposite extremes with 76.27%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/E6VnriWgve
Natural Gas Eyes Extending its Downtrend Move - N Gas Price Technical Analysis

Natural Gas Eyes Extending its Downtrend Move - N Gas Price Technical Analysis

2019-11-14 15:00:00
Mahmoud Alkudsi, Analyst
Share:

Natural Gas Technical Forecast

Did we get it right with our Gold and Crude Oil forecasts? Find out more for free from Q4 main currencies and commodities forecasts

Natural Gas – A Sharp U- Turn

Last week, natural gas rallied to $2.922 – its highest level in in over nine months. However, the price slipped then settled below $2.900 handle. This week, N gas has opened with a gap to the downside at $ 2.752.

Alongside this, the relative Strength Index (RSI) abandoned the overbought territory then fell sharply from 68 to 54 reflecting a weaker uptrend momentum.

Having trouble with your trading strategy? Here’s the #1 Mistake That Traders Make

Nat-Gas DAILY Price CHART (Jan 15, 2018 – Nov 14, 2019) Zoomed Out

Natural Gas Daily price chart 14-11-19 Zoomed out

Nat-Gas DAILY Price CHART (Aug 27 – Nov 14, 2019) Zoomed IN

Natural Gas Daily price chart 14-11-19 Zoomed in

Looking at the daily chart, we notice at the start of this week natural gas opened below the neckline of inverted head and shoulders and declined towards the lower trading zone $2.650- $2.735. Yesterday, sellers pressed below the low end however, the price reverted back and closed above.

Hence, a successful close below the low end could send natural gas towards the vicinity of $2.556-52. Nevertheless, the weekly support levels marked on the chart (zoomed in) should be kept in focus.

That said, a close in the other direction i.e. above the high end of the zone (the neckline of inverted head and shoulders) could push natural gas towards $2.799. However, the daily and level underlined on the chart should be monitored.

Just getting started?See our Beginners’ Guide for FX traders

Natural Gas price Four-Hour PRICE CHART (Oct 24 – Nov 14, 2019)

Natural Gas Four Hour price chart 14-11-19

From the four- hour chart, we notice on Thursday natural gas reversed course. This week the price has started a downtrend move after breaking below $2.780.

Thus, sellers may resume bearish price action below $2,617 towards $2.552. In that scenario, the weekly support level underscored on the chart would be worth monitoring.

On the other hand, a break above $2.771 could see the price trading even higher towards $2.799. Although, the daily resistance level underlined on the chart should be considered.

See the chart to know more about key levels to monitor in a further bullish/bearish move.

Join Me on Friday, Nov 22 at 14:00 GMT. In this session we will talk about most common Continuation patterns and how to trade them.

Written By: Mahmoud Alkudsi

Please feel free to contact me on Twitter: @Malkudsi

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

DISCLOSURES

News & Analysis at your fingertips.

We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site.