Baxia Markets
June 19, 2021

Natural Gas drops 3.8% after reaching an 8 month high.

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The price found support at 3.185; since then, it has already recovered 1.96% on the trading session. The pair did not reach the 23.6% Fibonacci Retracement which will also act as a strong support level if the price drops again.

The Bollinger bands are wide and continue to move up, which is a good indicator that the uptrend would continue; this pullback will allow the relative strength index to settle down at the low 60’s so the pair can continue the uptrend. The current RSI is at 61% after being in an overbought status for two sessions.


Natural Gas June 17th 2021

The price trades below the upper band, which gives us some room to think that the uptrend will continue; once the pair reaches this upper band level, we could consider the price relatively high and then expect another pullback.

Price could move sideways for the next few sessions before we see the uptrend continuing. The price has been somewhat steady in the last three days; markets are being a bit undecided.


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