Baxia Markets
April 24, 2022

Natural Gas retraces 16% in four sessions

technical analysis top header -01

The energy commodity had its biggest loss in a single day since early February, the price managed to close the session with a 7% loss, breaking the resistance from our 23.6% Fibonacci retracement and getting very close to the 38.2% retracement. The pair is likely to make a breakout attempt in the short term.


The Bollinger bands are very wide and volatility is expected to continue to be very high in the upcoming trading sessions, the pair still trades above the short and long-term moving averages, which indicates that the uptrend is expected to continue, once the price falls below $6.4 we would consider a trend reversal.


Natural Gas April 22nd 2022


The relative strength index is currently at 55% which will allow the pair to continue losing ground as it is the short-term trend for the last four days, if XNG finds support at the $6.43 level we might see the uptrend resume. Our parabolic SAR indicator suggests that the price will continue to fall in the upcoming sessions.


We love to hear new ideas from traders and want to know what you think! 


If you like this topic and want to suggest future topics that you find helpful, let us know by clicking the ‘submit your feedback’ button below.


Open Live Account  


Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. 


Nothing contained in this website should be construed as investment advice. Any reference to an investment's past or potential performance is not, and should not be construed as, a recommendation or as a guarantee of any specific outcome or profit.

Subscribe by Email