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Natural gas price fluctuates below the barrier – Analysis – 5-10-2021
Natural gas price continued to provide weak sideways trades, affected by the stability of 6.307 barrier, to hinder the bullish rally and increase the chances of forming correctional bearish rebound.
These factors allow us to wait to attack 5.600 level, and crawling below this support will increase the chances of testing 4.885 level, while succeeding to breach 6.307 will open the way to resume the bullish attack to target new positive levels that might start at 6.450 followed by reaching the psychological barrier at 7.000.
The expected trading range for today is between 6.000 and 5.240
The expected trend for today: Bearish
The European index fluctuates above the major support – Analysis – 5-10-2021
The European index ended the negative rebound by providing positive close above the bullish channel’s support line at 3960.00, attempting to keep the bullish bias domination for the upcoming period, thus, we will keep waiting to gather the positive momentum to manage to form bullish waves, waiting to reach 4070.00 and 4140.00 levels.
MoreThe EURJPY still bearish – Analysis – 5-10-2021
Despite the EURJPY price’s positive rebound and touching 129.37 level, the main stability below the bearish channel’s resistance towards 129.60 confirms the continuation of the negativity for the upcoming period.
MoreThe GBPJPY moves away from the support – Analysis – 5-10-2021
The GBPJPY pair formed bullish rally yesterday, taking advantage of the bullish channel’s support line stability near 149.50, to notice achieving some targets by reaching 151.50, attacking the moving average 55 that formed an obstacle against the bullish trades recently.
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