Natural gas: An uptrend will start as soon as the market rises above its resistance level at 8.345

Anton Kolhanov Anton Kolhanov

Thursday forecast (August 4, 2022)

Uptrend scenario

An uptrend will start as soon, as the market rises above resistance level 8.345, which will be followed by moving up to resistance level 8.755 and if it keeps on moving up above that level, we may expect the market to reach resistance level 9.420.

Downtrend scenario

The downtrend may be expected to continue, while market is trading below resistance level 8.345, which will be followed by reaching support level 7.600.

This/next Week Forecast (August 1 – 5, 2022)

Uptrend scenario

The uptrend may be expected to continue in case the market rises above resistance level 8,755, which will be followed by reaching resistance level 9,66.

Downtrend scenario

The downtrend may be expected to continue, while market is trading below resistance level 8,755, which will be followed by reaching support level 7,60 and 8,50.

Monthly forecast, August 2022

Uptrend scenario

The uptrend may be expected to continue in case the market rises above resistance level 8,755, which will be followed by reaching resistance level 9,664.

Downtrend scenario

The downtrend may be expected to continue, while market is trading below resistance level 8,755, which will be followed by reaching support level 6,500.

Author

Anton Kolhanov

Anton Kolhanov is a trader and an analyst. He started to study the Forex market in 2003.

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