Natural gas is on the move
Energy markets are on the move: volume in the largest oil ETF of the United States (USO) rose to a new peak in 2022. CME Group took a similar action for WTI Crude oil futures. The situation was fueled by geopolitical escalation in the Middle East.
Natural gas has developed a strong momentum, getting back to $3, and if it holds this level, it will complete the “cup-and-handle” pattern, which points to the continuation to the upside, up to $4 area and above.
The current price is also above the 20, 50, and 200 moving averages, indicating a “price discovery” regime. If XNGUSD doesn’t correct itself, it may develop another sharp spike upward.
Natural gas has developed a strong momentum, getting back to $3, and if it holds this level, it will complete the “cup-and-handle” pattern, which points to the continuation to the upside, up to $4 area and above.
The current price is also above the 20, 50, and 200 moving averages, indicating a “price discovery” regime. If XNGUSD doesn’t correct itself, it may develop another sharp spike upward.
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Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.