The gas market reacted swiftly to these statements, with prices falling significantly. Investors began to panic, fearing that these potential trade measures could trigger a chain reaction across other sectors of the economy. Experts note that this move could not only weaken the US position in international markets but also pose challenges for companies operating in the energy sector, especially in the context of the existing economic sanctions.
As for the technical outlook for NG, buyers need to focus on regaining control of the 3.915 level. A breakout of this range would open a direct path to 4.062 and 4.224, as well as the April 2023 level around 4.373. The most distant target would be the 4.800 area. In a scenario suggesting a correction, the first support level is at 3.734. A breakout of this support level would quickly drag the asset down to 3.000 with the ultimate target being the 2.317 area.
Bright Trust Academy ☀️
