. Natural Gas Technical Analysis: Weekly Chart | Key Market Insights

Natural Gas Technical Analysis: Weekly Chart | Key Market Insights

Natural Gas Technical Analysis: Weekly Chart | Key Market Insights

25 May 2023

NATURAL GAS Technical Analysis: Weekly Chart

In the weekly charts, Natural gas is trading in a down channel. Natural gas is currently trading below all SMA except MA (5)

RSI is in the selling zone which indicates bearishness. MACD is currently below zero which indicates bearishness.

Its immediate support is 2.300 the resistance level is at 2.550

Natural gas will trade in a down channel until there is a trend reversal. 

NATURAL GAS Technical Analysis: Daily Chart

In the daily charts, Natural gas is trading in a down channel. Natural gas is currently trading below all SMA except MA (50).

RSI is in the buying zone which indicates bullishness. MACD is currently below zero which indicates bearishness.

Its immediate support is 2.200 the resistance level is at 2.600

Natural gas will trade in a down channel until there is a trend reversal   

How to Trade NATURAL GAS this Week:

Natural gas will follow the downtrend until its trend reversal. So, remain bearish on S&P 500

TRADE SUGGESTION- SELL AT 2.355, TAKE PROFIT AT 2.200 AND STOP LOSS AT 2.700