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Natural gas price consolidates below the resistance – Analysis – 4-8-2022
Natural gas price failed to crawl below 50% Fibonacci correction level that forms additional support at 7.600, to force it to postpone the negative attack and cover some losses by rallying towards 8.450.
In general, the negative stability below 9.050 resistance forms the main factor to reinforce the domination of the bearish bias for the upcoming trading, thus, we will keep waiting to gather the negative momentum to assist to renew the pressure on the mentioned support, while breaking it will extend trades towards 7.330 and 7.050 levels.
The expected trading range for today is between 8.650 and 7.550
The expected trend for today: Bearish
Nikkei index provides positive signal – Analysis – 4-8-2022
Nikkei index provided positive signal by rallying above 27450 resistance recently, to notice achieving some gains by moving towards 28060, while this level might force intraday obstacle against the bullish trades, and stochastic continuous positive momentum signals will increase the chances of resuming the bullish attack, to expect reaching new positive attempts stations that start at 28440 and 28930 levels.
MoreThe EURJPY approaches the barrier – Analysis – 4-8-2022
The EURJPY pair kept the chances of renewing the bullish rally by holding above the additional support 133.60, to notice resuming the bullish attack and approach the first barrier at 136.70.
MoreThe GBPJPY repeats the positive attempts – Analysis – 4-8-2022
The GBPJPY pair reinforced the chances of renewing the bullish attempts by fluctuating above the moving average 55 recently, located near 161.70, to surpass the first positive target at 162.80.
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