Natural Gas Technical Analysis Tick Price Reduces

We expect natural gas prices to return in the coming trading period.

CFDS ON NATURAL GAS decreased slightly during the recent domestic trading session, while at the time of writing, daily losses were down -0.15%. Prices are set at $ 4,568 per million British thermal units, down -4.27% yesterday.

 

Russian President Vladimir Putin said in a statement on Monday that he had “ordered the troops to enter the separatist areas of Moscow, recognizing the independence of the separatist factions of Luhansk and Donetsk.”

US President Joe Biden on Tuesday stepped up pressure on Russia over economic sanctions and military action in response to the escalation of tensions along the Ukrainian border. This was the latest in a series of offensives by Ukraine’s Western allies after President Vladimir Putin announced that he recognizes the sovereignty of two pro-Russian territories along the eastern border and will defend them with “peacekeeping force”.

News of Russian actions and possible repercussions triggered daily natural gas and oil prices.

Natural gas futures at the New York Mercantile Exchange in March were $ 4,498 million British units, up from 6.7 cents on Friday. Futures for April rose 8.4 cents to $ 4,461.

President Biden has promised that the administration will work to protect domestic consumers from the consequences of Russia. NATO allies are expected to put pressure on Russia’s main economic bloc and the oligarchy, which is close to Putin.

A.D. Following Russia’s annexation of Crimea in 2014, President Biden announced plans to impose sanctions on two more Russian financial institutions. One opposes the VEB.RF and the military bank. Biden said it would impose sanctions on the country’s sovereign debt, in particular by blocking Western financial support from Russia.

He is trying to find a positive energy that will help him recover and grow technically. In the past few days, in addition to shedding positive signals on relative strength indicators.

Therefore We expect natural gas prices to return in the coming trading periodAs long as support level 4.214 does not remain, target the first level of protection at 4.954.

Natural gas

#forex_news

Leave a Comment