Monday, June 27 2022 Sign In   |    Register

News Quick Search



Front Page
Power News
Gas News
Today's News
Yesterday's News
Week of Jun 20
Week of Jun 13
Week of Jun 06
Week of May 30
Week of May 23
By Topic
By News Partner
News Customization


Pro Plus(+)

Add on products to your professional subscription.
  • Energy Archive News

    Home > News > Gas News > News Article

    Share by Email E-mail Printer Friendly Print

    Natural Gas Technical Analysis: Price Resumes its Rise - 16 May 2022

    May 16, 2022 -


      Spot natural gas prices (CFDS ON NATURAL GAS) rose in their recent trading at the intraday levels, to achieve daily gains until the moment of writing this report, by 2.59%, to settle at the price of $7,750 per million British thermal units. This is after falling slightly in trading on Friday and in a volatile session by It reached -0.46%. Over the past week, natural gas decreased by -3.84%.

      [CAD:EN - 2 - Bonus programs]

      Shockingly weak data from China confirmed the massive damage the lockdown is doing to the world's second-largest economy. China's retail sales for April fell 11.1% year-on-year, nearly double the autumn forecast, while industrial production fell 2.9% when it was Analysts are looking for a slight increase.

      Monday's data overshadowed the news that Shanghai aims to reopen widely and allow normal life to resume from June 1.

      China's central bank also disappointed those hoping for an interest rate cut, although on Sunday Beijing allowed an additional cut in mortgage rates for some home buyers.

      Meanwhile, gas production in key regions of the United States has slowed this year, in part because of insufficient pipeline capacity. Bad weather also reduced production and increased demand. As the Russian invasion of Ukraine and subsequent sanctions caused a scramble for US LNG exports, US LNG plants consumed 15% of domestic production in mid-March.

      Increased demand from Europe, which is trying to get rid of Russian energy supplies, has led analysts to expect prices to remain high.

      Technically, the main bullish trend dominates in the medium and short term, with the continuation of positive support for its trades above its simple moving average for the previous 50 days.In addition, we notice the start of positive signals on the relative strength indicators, after they reached oversold areas, as shown in the attached chart. for a period of time (daily).

      Therefore, we expect natural gas to rise during its upcoming trading, as long as its stability is above the level of 7.368, to target the first resistance levels at 8.054, in preparation for attacking it.

      Original Source provides daily fundamental and technical analysis and signals for those looking to trade based on trends in the currency markets.


    Other Articles - International


       Home  -  Feedback  -  Contact Us  -  Safe Sender  -  About Energy Central   
    Copyright © 1996-2022 by CyberTech, Inc. All rights reserved.
    Energy Central® and Energy Central Professional® are registered trademarks of CyberTech, Incorporated. Data and information is provided for informational purposes only, and is not intended for trading purposes. CyberTech does not warrant that the information or services of Energy Central will meet any specific requirements; nor will it be error free or uninterrupted; nor shall CyberTech be liable for any indirect, incidental or consequential damages (including lost data, information or profits) sustained or incurred in connection with the use of, operation of, or inability to use Energy Central. Other terms of use may apply. Membership information is confidential and subject to our privacy agreement.