Natural Gas is on the Bull Run: Price Spike Ahead?
Natural gas broke the psychological resistance level of 3.000, rebounded from it, and broke the maximum point reached at the level of 3.47. The bulls are seizing the initiative right now. Hence, there are two possible scenarios. The price of gas might retest the level of 3.000, rebound, and rise. Otherwise, the asset could form a flag or slightly rebound from the broken level of 3.47 and target the level of 4.000 next. So, let’s observe which scenario is likely to work out.
The price of gold retested the level of 2000 to no avail. Currently, the newly formed zone between levels 2000 and 2010 prevents price growth. Last Friday, the shooting star, that is, the candle with a small body and a long shadow, formed on the chart; therefore, the price of gold is likely to drop until the broken downtrend. Only time will tell when it might happen.
The price of the currency pair EUR/USD tested the broken downtrend and formed the dojis on its broken side at the end of the trading week. Thus, the asset might potentially jump and face resistance at the level of 1.0756.
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