To evaluate the trend of Natural Gas we must take into account 2 factors:
1) The international macro political scenarios:
Russia, which is the world's leading producer, will export less to its main customer the European Union.
Winter in Europe is upon us and there is a serious risk of an energy blockade, Europe will find GAS but the cost from September onwards will be very high with the main natural gas producer out of the market.
2) Graphically we can deduce a strongly bullish graphic structure where increasing minimums and maximums constantly lean on well-defined supports, the price above the moving averages 100, 200 and the fibonacci extension speaks clearly the price should orbit soon at the price of $ 15.
GAS export data:
In 2020, the 5 largest gas exporters in the world were Russia (199,928 mcm), United States (149,538 mcm), Qatar (143,700 mcm), Norway (112,951 mcm), Australia (102,562 mcm).
Winter is coming (Cit 'GOT)
LPI.sa
1) The international macro political scenarios:
Russia, which is the world's leading producer, will export less to its main customer the European Union.
Winter in Europe is upon us and there is a serious risk of an energy blockade, Europe will find GAS but the cost from September onwards will be very high with the main natural gas producer out of the market.
2) Graphically we can deduce a strongly bullish graphic structure where increasing minimums and maximums constantly lean on well-defined supports, the price above the moving averages 100, 200 and the fibonacci extension speaks clearly the price should orbit soon at the price of $ 15.
GAS export data:
In 2020, the 5 largest gas exporters in the world were Russia (199,928 mcm), United States (149,538 mcm), Qatar (143,700 mcm), Norway (112,951 mcm), Australia (102,562 mcm).
Winter is coming (Cit 'GOT)
LPI.sa