Natural gas price repeats the negative closings – Analysis – 20-3-2019
The Natural gas price confirmed surrendering to the bearish bias domination by providing frequent negative closings below 2.960 resistance, while stochastic current attempt to reach the overbought areas confirms getting rid of the positive pressures to keep waiting to gather new negative momentum and manage to break the initial support at 2.754 followed by starting to record the main negative targets at 2.500 and 1.850 levels.
The stability of the moving average 55 above the current resistance confirms blocking the price within the negative range, to increase the chances of gathering the negative momentum and prepare to achieve the waited targets.
The expected trading range for today is between 2.960 and 2.500
The expected trend for today: Bearish
| Symbol | Last | Change | Chg.% | ||
|---|---|---|---|---|---|
|
|
|
1.1030
|
-0.0005
|
0.0444%
|
|
|
|
|
1.3057
|
-0.0025
|
0.1915%
|
|
|
|
Tadawul
|
8326.97
|
-59.38
|
0.71%
|
|
|
|
|
18.259
|
0.155
|
0.856%
|
|
|
|
|
52.865
|
-1.407
|
2.593%
|
|
|
|
|
60.69
|
-1.35
|
2.18%
|
|
|
|
|
1582.330
|
11.700
|
0.745%
|
|
