Baxia Markets
March 07, 2022

Natural Gas could find support at 4.805

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The energy commodity broke the resistance at the 23.6% Fibonacci retracement but is not being able to hold the breakout in today's trading session, the pair is down 1.3% after reaching 5.186 earlier today.


The Bollinger bands are wide and they are opening up, particularly the upper band, which will allow the pair to continue the uptrend in the short to mid-term, Natural Gas was trading above the upper band this morning, which is why we see a drop, the price was relatively high, but as the bands open, it will allow the price to continue rising.


Nat Gas Mar 4th 2022-1


The relative strength index is at 60%, there is still some room that would allow the price to continue climbing, once it enters the overbought status we would expect to see a pullback. The short and long-term moving averages indicate an upward trend, as the price is above both lines.


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