Good afternoon
Natural gas, having dropped from the highs around the 10 MMBtu level, ended up in the 2 MMBtu support area, where the broken monthly downtrend is taking place. Price area 1.44-2.44 MMBtu, if you look at the retrospective, is a fairly strong support for gas prices. Last month closed with a dodge, which ran into a broken downtrend. The base scenario, and we will have it in the medium term (timeframe – monthly), is a gradual increase in gas quotes towards the resistance level of 10 MMBtu:
Bitcoin bounced off the broken ascending channel, where there is also a strong resistance area of 25000-26000. Today, the coin is trying to close by absorption, so we may materialize the potential for a decline towards the level of 21500, with the prospect of “probing” the “psychological” level of 20000:
Silver bounced off the resistance level of 22.40, where 50% Fibo is also passing (the middle of the last downward movement). The base scenario is a decline towards support at 20.80 followed by a rebound upwards:
Oleg Svirgun, analyst at the brokerage company Tickmill
03/16/2023
