NEWS: Natural Gas price increased 3.4% after reports by the US Government that the US LNG export capacity will double up by 2028.
Possible Scenarios:
If Natural Gas fails to breach through R2 of 2.272, our Research Department expects Natural Gas to undergo a short- term downward correction.
If Natural Gas manages to break above its R2 of 2.272, our Research Department expects Natural Gas to extend its gains to its R3 of 2.303.
Support and Resistance Levels:
Natural Gas |
S3 |
S2 |
S1 |
Reference Price |
R1 |
R2 |
R3 |
2.095 |
2.126 |
2.157 |
2.199 |
2.241 |
2.272 |
2.303 |
Potential Profit or Potential Loss Calculations:
10 cents per 1 trading lot* |
USD |
EUR** |
GBP*** |
(+/-) $100 |
(+/-) €90.56 |
(+/-) £76.26 |
*1 trading lot is equivalent of 10000 units
**EUR/USD = 1.10426
***GBP/USD = 1.31136
Calculations for exchange rate used as of Wednesday, September 4, 2024, 13:44 GMT+1