The N.G of Russia is NG

In this comprehensive analysis, Ultima Markets brings you an insightful breakdown of the NG for JAN 2, 2025. 

Fundamental Analysis 

NG Key Takeaways 

Russia stop supplying natural gas to Europe: On January 1, Gazprom announced that it would stop supplying natural gas to Europe through the Soviet-era pipeline that runs through Ukraine from 05:00 GMT on January 1. The supply suspension was due to Ukraine’s refusal to renew the transit agreement The end of an era: Russia and the former Soviet Union spent half a century occupying a significant share of the European natural gas market, reaching a peak of about 35%. Although the Russia-Ukraine conflict has lasted for nearly three years, natural gas supplies have never been interrupted. The latest suspension of supply marks the official end of Moscow’s 50-year dominance of the European energy market and the era of cheap natural gas that powered the European economy. Supply of natural gas: Natural gas supply is tight in the short term. But looking ahead to 2025, the fundamentals of the global natural gas market are relatively optimistic, and there is limited room for natural gas to rise. On the one hand, after the Russian-Ukrainian conflict, the United States benefited from it. Its LNG supply capacity was greatly enhanced, and the bottleneck on the supply side was broken. In 2023, LNG trade accounted for 53% of natural gas trade, and it has become the main supply method of natural gas. Technical Analysis NG Daily Chart Insights 

(NG Daily Price Chart, Source: Ultima Markets MT4) 

Stochastic oscillator: Although the market price hit a short-term high, the indicator finally diverged and fell out of the overbought area. Based on the fact that the indicator still has no top divergence pattern, there is still a probability that natural gas prices will continue to rise. Fair value gap: Natural gas prices jumped higher at the end of 2024, based on the overall trend itself is an upward trend. Therefore, despite the current price decline, we still pay attention to the support of the fair value gap below and the upward trend line. The market price may continue to rise after the adjustment. 

NG 1-hour Chart Analysis 

(NG H1 Price Chart, Source: Ultima Markets MT4) 

Stochastic oscillator: The indicator diverged from the market price trend on the previous trading day, suggesting that the market price will be dominated by a volatile trend during today’s Asian session. Downward trend: After natural gas prices broke through the key support level of 4.011 on December 31, the market price is clearly in a downward trend. The first target below is the green 200-period MA. Investors need to wait for the downward trend line to be broken before paying attention to long opportunities. 

NG Pivot Indicator 

(NG M30 Price Chart, Source: Ultima Markets MT4) 

According to Pivot Indicator in MT4, the central price of the day is established at 3.893, Bullish Scenario: Bullish sentiment prevails above 3.893, first target 4.031, second target 4.341; Bearish Outlook: In a bearish scenario below 3.893, first target 3.584, second target 3.441. 

Conclusion 

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