Thursday Forecast
Uptrend scenario
An uptrend will start as soon, as the market rises above resistance level 2.700, which will be followed by moving up to resistance level 2.800 - 2.920.
Downtrend scenario
The downtrend may be expected to continue, while market is trading below resistance level 2.700, which will be followed by reaching support level 2.450.
This/Next Week Forecast (October 12 - 16, 2020)
Uptrend scenario
The uptrend may be expected to continue in case the market rises above resistance level 2.920, which will be followed by reaching resistance level 3.200.
Downtrend scenario
An downtrend will start as soon, as the market drops below support level 2.700, which will be followed by moving down to support level 2.450 and if it keeps on moving down below that level, we may expect the market to reach support level 2.160.
Previous week natural gas forecast chart
Fundamental Analysis
Difference between supply and demand showing fair price on the level 2.7.
Long-Term Forecast (Quarter III: July - September, 2020)
Uptrend scenario
The uptrend may be expected to continue, while market is trading above support level 2.160, which will be followed by reaching resistance level 2.700.
Downtrend scenario
An downtrend will start as soon, as the market drops below support level 2.160, which will be followed by moving down to support level 1.640.
All information provided by Anton Kolhanov is for informational purposes only. Information provided is not meant as investment advice nor is it a recommendation to buy or sell any trading instrument. Anton Kolhanov is not responsible for any losses arising from any investment based on any recommendation, forecast or other information herein contained. You should do your own thorough research before making any investment decisions and seek advice from an independent financial advisor.
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Editors’ Picks
AUD/USD: The hunt for the 0.7000 hurdle
AUD/USD quickly left behind Wednesday’s strong pullback and rose markedly past the 0.6900 barrier on Thursday, boosted by news of fresh stimulus in China as well as renewed weakness in the US Dollar.
EUR/USD refocuses its attention to 1.1200 and above
Rising appetite for the risk-associated assets, the offered stance in the Greenback and Chinese stimulus all contributed to the resurgence of the upside momentum in EUR/USD, which managed to retest the 1.1190 zone on Thursday.
Gold holding at higher ground at around $2,670
Gold breaks to new high of $2,673 on Thursday. Falling interest rates globally, intensifying geopolitical conflicts and heightened Fed easing bets are the main factors.
Bitcoin displays bullish signals amid supportive macroeconomic developments and growing institutional demand
Bitcoin (BTC) trades slightly up, around $64,000 on Thursday, following a rejection from the upper consolidation level of $64,700 the previous day. BTC’s price has been consolidating between $62,000 and $64,700 for the past week.
RBA widely expected to keep key interest rate unchanged amid persisting price pressures
The Reserve Bank of Australia is likely to continue bucking the trend adopted by major central banks of the dovish policy pivot, opting to maintain the policy for the seventh consecutive meeting on Tuesday.
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