NEWS: The Natural Gas price is dropping 2.77%, testing its lowest level in almost a week as investors continued watching if the US exports managed to stabilize.
Possible Scenarios:
If Natural Gas fails to break below Support 2 of 2.100, our Research Department expects Natural Gas to undergo a short- term upward correction.
If Natural Gas manages to break below Support 2 of 2.100, our Research Department expects Natural Gas to extend its losses to its Support 3 of 2.069.
Support and Resistance Levels:
NATURAL GAS |
S3 |
S2 |
S1 |
Reference Price |
R1 |
R2 |
R3 |
2.069 |
2.100 |
2.131 |
2.173 |
2.215 |
2.246 |
2.277 |
Potential Profit or Potential Loss Calculations:
1 cent per 1 trading lot* |
USD |
EUR** |
GBP*** |
(+/-)100$ |
(+/-)92.26€ |
(+/-)77.62£ |
* 1 trading lot is equivalent of 10,000 units
** EUR/USD = 1.08381
***GBP/USD= 1.28820
Calculations for exchange rate used as of 10:30 (GMT+1) 25/07/2024