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Technical Update - Dutch Gas seems to resume uptrend. Henry Hub treading water above key support

From home.saxo

Dutch Gas opened yesterday Tuesday below 0.618 retracement and key support at €187.50. But buyers took immediate control and kept it through-out the session and closed the market well above the key support forming a Bullish Engulfing candle which indicates a bottom and reversal. RSI is still above 40 and has not been below since June i.e., positive sentiment and indicating reversal. Dutch gas is set for a strong rebound. A move to 0.382 retracement of the sell-off at 235.50 and resistance at 247 with-in few days is likely. If breaking above that resistance area next key resistance area is the 0.618 retracement at ... (full story)

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  • Category: Technical Analysis