Natural Gas Forecast: Gradual Rise Ahead

Natural gas has dropped from the level of 10 MMBtu to the supporting level of 2 MMBtu, which is located next to the broken monthly downtrend. The zone formed between the levels 1.44 and 2.44 MMBtu can offer very strong support to the natural gas prices. Last month natural gas formed a Doji candle, which is now touching the broken downtrend on the monthly timeframe. Natural gas is likely to gradually rise and target resistance at the level of 10 MMBtu over the medium term. So, let’s observe how far natural gas is prepared to go.

Bitcoin has pulled from the broken uptrend, which is located next to a very strong resistance area formed between the levels 25000 and 26000. Currently, the asset’s price is trying to form an engulfing. Hence, the asset is likely to drop to the level of 21500 and test the psychological level of 20000 soon.

Silver has pulled from the resistance at the level of 22.40 next to the 50% Fibonacci retracement, that is, the middle point from the latest descending move. Silver might drop to the level of 20.80, gain the required support, and jump. So, let’s observe whether it is going to happen.

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