1. It looks traders are trusting the natural gas market and believe that there will be crisis, especially in Europe, due to shortage in natural gas supply as a result of sanctions on Russian products.
2. Bulls trying to complete their winning state against bears and keep pushing up the prices to more up levels and keep receiving direct support from VWAP (white) and EMA20 (green) lines.
3. Full breaking of candle(s) above VWAP means that prices will keep its uptrend direction to contact the first strong resistant line @ 61.8% level. The battle starts at that level between bulls and bears. Bears win the previous battle and prevent bulls to penetrate that level. This dilemma will only solved if bulls hold their trust and penetrate $4.98x level and continuing up their way to achieve the target @ 78.6% level below $5.14x. The target level is approximately near top levels achieved at early days of Mar-22.
4. The plan of Europe to agree with new suppliers like Qatar and Algeria to provide them with NG will play a big role in increasing the prices per cube and I expect prices to reach the maximum limits by Q3 of this year.
Tools used for analysis are Fib pattern, BB indicator, VWAP, volume, and MA ribbon.
2. Bulls trying to complete their winning state against bears and keep pushing up the prices to more up levels and keep receiving direct support from VWAP (white) and EMA20 (green) lines.
3. Full breaking of candle(s) above VWAP means that prices will keep its uptrend direction to contact the first strong resistant line @ 61.8% level. The battle starts at that level between bulls and bears. Bears win the previous battle and prevent bulls to penetrate that level. This dilemma will only solved if bulls hold their trust and penetrate $4.98x level and continuing up their way to achieve the target @ 78.6% level below $5.14x. The target level is approximately near top levels achieved at early days of Mar-22.
4. The plan of Europe to agree with new suppliers like Qatar and Algeria to provide them with NG will play a big role in increasing the prices per cube and I expect prices to reach the maximum limits by Q3 of this year.
Tools used for analysis are Fib pattern, BB indicator, VWAP, volume, and MA ribbon.