Skip to Content
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. See our updated Privacy Policy here.



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

Live Webinar

Live Webinar Events


Economic Calendar

Economic Calendar Events

Free Trading Guides
Please try again
More View More
Natural Gas (NG) Charts Point to a Rally

Natural Gas (NG) Charts Point to a Rally

Paul Robinson, Strategist

Natural Gas Technical Highlights:

  • Big decline has support in play, price action is strong
  • Sizable rally could develop following flush of 200-day

Natural gas declined nearly 40% from its yearly high just as the new week began. The decline brought into play the 200-day moving average and a trend-line dating to February. The strong reaction around the 200 suggests a low could be in. Looking at the hourly chart the action around the 200-day played out as a wedge formation that failed to follow through, and is in the process of getting broken in the opposite direction. Failed continuation patterns often lead to strong reversals in the opposite direction, especially when they occur around major levels. Looking higher, there is resistance around 7.23, 7.40, and 7.55. It wouldn't be surprising, though, to soon have gas trading in the 8s. A sustained breakdown below the weekly low at 6.30 would put nat gas back on its heels.

Natural Gas Daily Chart

Chart, bar chart, histogram  Description automatically generated

Natural Gas Hourly Chart

Chart  Description automatically generated

Natural Gas Charts by TradingView

Resources for Forex Traders

Whether you are a new or experienced trader, we have several resources available to help you; indicator for tracking trader sentiment, quarterly trading forecasts, analytical and educational webinars held daily, trading guides to help you improve trading performance, and one specifically for those who are new to forex.

---Written by Paul Robinson, Market Analyst

You can follow Paul on Twitter at @PaulRobinsonFX

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