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Bearish Signals

All articles tagged with #bearish signals

finance2 years ago

"Natural Gas Market: Supply Drop and Heating Demand Drive Price Surge"

Natural gas pulled back from last week's high, testing support at the uptrend line, with a minor bullish indication. Demand picked up intraday, leading to a bounce to test resistance. Volatility is muted due to a U.S. bank holiday, with a possible doji close. A potential bearish double top reversal pattern has formed, with strong support expected at the 200-Day MA or higher. Despite some retracement, bullish indicators suggest natural gas may be ready to test recent highs after a period of consolidation.

via FX Empire|
#bearish-signals#finance#market-analysis
energy-markets2 years ago

Natural Gas Futures Face Bearish Signals and Resistance Amidst Weak Outlook

Natural gas continues to face downward pressure, reaching a new trend low of 2.65. However, a minor intraday bounce suggests the possibility of a narrow bullish hammer candlestick pattern, indicating short-term strength if there is a breakout above 2.75. Nevertheless, potential resistance lies around the 50-Day MA at 2.87 and the long-term uptrend line. If a bounce occurs, a bearish reversal is expected at these resistance levels. The next lower target is 2.62, completing a falling ABCD pattern and coinciding with the 200-Day MA. Further downside acceleration is possible, given the break below the 50-Day MA and uptrend line. On a monthly chart, a bearish flag has been triggered, with natural gas on track to close below last month's low.

via FX Empire|
#bearish-signals#energy-markets#natural-gas
energy2 years ago

"OPEC+ Production Cuts Fail to Satisfy Crude Oil Markets"

Crude oil prices were unable to gain momentum despite OPEC+ extending production cuts, as disagreements within the alliance raised concerns about its effectiveness. The decision to include Brazil in OPEC in 2024 was also announced. Forecasts of a possible surplus in 2024 contributed to the extended cuts. The upcoming week may see a potential rebound in the USD, which could negatively impact crude oil prices. Technical analysis suggests a bearish bias with the formation of bear flag patterns on both Brent crude and WTI charts.

via DailyFX|
#bearish-signals#crude-oil#energy