NEWS: The Natural Gas price is dropping 3.32%, after it rose by around 10% since late last week.
Possible Scenarios:
If Natural Gas fails to break below Support 1 of 2.218, our Research Department expects Natural Gas to undergo a short- term upward correction.
If Natural Gas manages to break below Support 1 of 2.218, our Research Department expects Natural Gas to extend its losses to its Support 2 of 2.183.
Support and Resistance Levels:
NATURAL GAS |
S3 |
S2 |
S1 |
Reference Price |
R1 |
R2 |
R3 |
2.148 |
2.183 |
2.218 |
2.265 |
2.312 |
2.347 |
2.382 |
Potential Profit or Potential Loss Calculations:
1 cent per 1 trading lot* |
USD |
EUR** |
GBP*** |
(+/-)100$ |
(+/-)92.09€ |
(+/-)77.57£ |
* 1 trading lot is equivalent of 10,000 units
** EUR/USD = 1.08580
***GBP/USD= 1.28908
Calculations for exchange rate used as of 14:18 (GMT+1) 23/07/2024