Natural Gas Futures (QG1!),H4 Potential for Bullish Continuation
Type : Bullish Rise
Resistance : 10.695
Pivot: 10.005
Support : 9.050
Preferred Case: On the H4, with the price moving within the ascending trendline and above the ichimoku cloud , we have a bullish bias that the price may rise from the pivot at 10.005, which is in line with the 61.8% fibonacci projection to the 1st resistance at 10.695, where the 78.6% fibonacci projection is.
Alternative scenario: Alternatively, price could drop to the 1st support at 9.050, where the 38.2% fibonacci retracement is.
Fundamentals: Gazprom , Russia’s state-backed gas monopoly said on last Friday that it was planning maintenance on the Nord Stream 1 pipeline to Germany early next month, which further impact the supply of gas.
Resistance : 10.695
Pivot: 10.005
Support : 9.050
Preferred Case: On the H4, with the price moving within the ascending trendline and above the ichimoku cloud , we have a bullish bias that the price may rise from the pivot at 10.005, which is in line with the 61.8% fibonacci projection to the 1st resistance at 10.695, where the 78.6% fibonacci projection is.
Alternative scenario: Alternatively, price could drop to the 1st support at 9.050, where the 38.2% fibonacci retracement is.
Fundamentals: Gazprom , Russia’s state-backed gas monopoly said on last Friday that it was planning maintenance on the Nord Stream 1 pipeline to Germany early next month, which further impact the supply of gas.
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