• Silver price remains stronger as receives support from safe-haven demand.
• The precious metals like Silver gain support amid uncertainty surrounding inflation and potential Trump tariffs.
• Traders closely monitor the US Nonfarm Payrolls report for further insights into the Federal Reserve’s policy direction.

Silver price (XAG/USD) continues its rally after registering little losses in the previous session, trading around $30.20 per troy ounce during the Asian hours on Friday. Traders are now focused on US labor market data including Nonfarm Payrolls (NFP), for additional insights into the Federal Reserve’s policy direction.

The precious Silver, often considered a safe-haven asset, gains support amid uncertainty surrounding inflation and potential tariffs under President-elect Trump’s administration, as highlighted by the US Federal Reserve (Fed).

However, the upside of the non-yielding metal could be restrained as long-term US bond yields continue climbing on heavy supply. The 10-year stands at 4.68%, while the 30-year stands at 4.92% at the time of writing. This could be attributed to hawkish Federal Open Market Committee (FOMC) Minutes from the December meeting.

The latest FOMC Meeting Minutes showed that Fed policymakers expressed concern about inflation and the impact that President-elect Donald Trump’s policies could have. Fed officials indicated they would be moving more slowly on rate reductions because of the uncertainty. Fed officials penciled the expected cuts in 2025 to two from four in the previous estimate at September’s meeting.

Heightened geopolitical tensions have intensified market volatility, driving investors toward safe-haven assets like Silver. On Thursday, four people were killed in shelling incidents in Ukraine, with regional officials attributing one attack to Russia’s military and another to Ukrainian forces. In the Russian-controlled Zaporizhzhia region, two additional fatalities occurred when the town of Kamyanka-Dniprovska came under Ukrainian fire, according to Russia-appointed governor Yevgeny Balitsky, as reported by Reuters.

Price cà phê Robusta greduce myes

Trên sàn London, giá cà phê Robusta ghi nhận đã quay đầu giảm mạnh vào lúc 15 giờ 30 phút ngày January 9, 2025. Cụ thể, mức giảm dao động từ 40 – 63 USD/tấn, với giá giao hàng tháng March 2025 đạt 4956 USD/tấn (giảm 63 USD/tấn). Các kỳ hạn khác cũng ghi nhận mức giảm tương tự, với giá tháng May 2025 là 4877 USD/tấn (giảm 53 USD/tấn), tháng July 2025 là 4795 USD/tấn (giảm 44 USD/tấn) và tháng September 2025 là 4709 USD/tấn (giảm 40 USD/tấn).

Price cà phê Arabica cugh khip kthere kdamp hthanks

Tương tự, giá cà phê Arabica trên sàn New York cũng giảm mạnh, với mức giảm từ 4.05 – 4.50 cent/lb. Giá giao hàng tháng March 2025 là 316.45 cent/lb (giảm 4.05 cent/lb), tháng May 2025 là 313.00 cent/lb (giảm 4.30 cent/lb), tháng July 2025 là 307.95 cent/lb (giảm 4.45 cent/lb), và tháng September 2025 là 301.60 cent/lb (giảm 4.50 cent/lb).

Giá cà phê Arabica từ Brazil cũng ghi nhận sự giảm giá không đều, dao động từ 373.10 – 395.50 USD/tấn. Kỳ giao hàng tháng May 2025 là 395.50 USD/tấn (giảm 0.95 USD/tấn) và kỳ tháng July 2025 là 382.90 USD/tấn (giảm 5.90 USD/tấn).

Gthere cà phê nội địa giảm “sốc”

Theo thông tin từ Giacaphe.com, vào lúc 15 giờ 30 phút hôm nay January 9, 2025, sau 3 phiên tăng liên tiếp trong tuần, thì đã ghi nhận giá giảm sốc vào đầu giờ chiều nay ở mức trung bình 119.100 đồng/kg, giảm -2.300 đồng/kg.

The highest coffee purchase price in key regions of the Central Highlands was recorded at 119.200 VND/kg. Specifically, today’s coffee price at Dak Lak at 119.000 VND/kg, down -2.300 VND/kg; coffee price at Lam Dong has a price of 118.000 VND/kg, down -2.500 VND/kg; coffee price at Gia Lai có mức giá 119.000 đồng/kg, giảm -2.200 đồng/kg và giá cà phê tại Dak Nong Today price is 119.200 VND/kg, down -2.300 VND/kg.

Giá cà phê trong nước mà Giacaphe.com niêm yết mỗi ngày được tính toán dựa trên giá của hai sàn cà phê world kết hợp với việc khảo sát liên tục từ các doanh nghiệp, đại lý thu mua tại các vùng trọng điểm trồng cà phê trên cả nước.

Coffee price prediction tomorrow 10/ 1 / 2025

Việc giá cà phê trong nước giảm mạnh vào đầu giờ chiều nay có thể được lý giải bởi một số yếu tố. Trước hết, sự điều chỉnh giá có thể phản ánh những biến động trong cung và cầu toàn cầu, cũng như tâm lý thị trường sau các phiên tăng liên tiếp.

Cà phê thành phẩm của Công ty TNHH Seed Coffee Đà Lạt. Ảnh: Cẩm Thảo

Ngoài ra, các yếu tố như giá cà phê thế giới, thời tiết, sản lượng thu hoạch và nhu cầu tiêu thụ cũng có thể ảnh hưởng đến giá cà phê trong nước. Nếu tình hình thời tiết thuận lợi và sản lượng cà phê đạt yêu cầu, giá có thể tiếp tục chịu áp lực giảm.

Việc giá cà phê giảm mạnh có thể ảnh hưởng đến tâm lý người nông dân và các doanh nghiệp thu mua. Trong bối cảnh thị trường thế giới biến động, người tiêu dùng và các nhà đầu tư nên theo dõi sát sao các yếu tố tác động đến giá cả trong thời gian tới.

Dự báo cho ngày January 10, 2025, nếu không có thay đổi lớn về các yếu tố cơ bản, giá cà phê có khả năng sẽ tiếp tục ở mức ổn định trong khoảng từ 118.000 đến 119.200 đồng/kg.

Expanding Triangle Forms Near Highs

Nonetheless, today’s low established the bottom of a possible small expanding triangle consolidation formation. It is forming just below resistance around the 200-Day MA, currently at 75.74. This means that crude could rise to new highs but stay within the expanding consolidation range as defined with two lines around the boundary of the pattern that are pointing away from each other.

A resistance zone is identified on the chart from 75.78 to 76.47 due to the confluence of several indicators, including the 200-Day line. Also, there is the bottom boundary line of a large symmetrical triangle pattern cutting through the range.

200-Day MA Key Test of Resistance

Notice that the area around the 200-Day line was last tested as resistance during the upswing that ended with a peak of 79.09 in October last year. That advance ended with a 13.44 point or 20.5% rise in the price of crude oil, when measured from the September low of 65.65. There might be a measured move relationship between the prior advance and the current rally. The current advance saw crude oil rise by 8.36 points or 12.5% as of Wednesday’s high of 75.47. Bullish sentiment began to dominate again following the 67.11 bottom in early-December and that price is used to measure the current advance.

Time Symmetry Established?

The September rally occurred over 20 trading days, while the current advance to yesterday’s was 21 days. That shows time symmetry. Meaning, once the time matches there is the potential for a pivot in the price of crude. That could occur with a retracement or consolidation. It is also interesting to note that the 8.36-point advance is 62.2% of the 13.44-point rally that started in September. That ratio is very close to the 61.8% Fibonacci relationship.

For a look at all of today’s economic events, check out our economic calendar.

XAU/USD Current price: $2,670.71

• Financial markets remained cautious, with safe-haven assets leading the way.
• Market players shift the focus to the US Nonfarm Payrolls report.
• XAU/USD keeps posting higher highs on a daily basis, aims to retest records.

Spot Gold is up for a third consecutive day, hitting $2,678.16 a troy ounce during European trading hours, holding nearby in a thinned American session amid a United States (US) holiday. Speculative interest maintained the cautious stance despite a lighter macroeconomic calendar, resulting in generally stronger safe-haven assets. XAU/USD trades comfortable above $2,670, moving one step closer to record highs in the $2,726 price zone.

Data-wise, US-based employers announced 38,792 cuts in December, a 33% decrease from the 57,727 cuts announced one month prior. According to the Challenger Job Cuts report, it is up 11% from the 34,817 cuts announced in the last month of 2023.  The report adds to encouraging employment-related figures ahead of the Nonfarm Payrolls (NFP) report.

The December NFP report is expected to show that the US economy created 160,000 new positions, another solid figure. At the same time, the Unemployment Rate is foreseen to remain steady at 4.2%. If that’s the case, financial markets will likely welcome the headlines that would allow the Federal Reserve’s (Fed) recently adopted tighter path when they meet on January 28-29.

XAU/USD short-term technical outlook

From a technical point of view, XAU/USD’s bullish potential has increased. The pair posted a higher high and a higher low for a third consecutive day while extending gains beyond all its moving averages. The 20 Simple Moving Average (SMA) lacks directional strength at around $2,638, while the 100 SMA nears the shorter one with a bullish slope from below. At the same time technical indicators head firmly north within positive levels, favoring a continued advance.

In the near term, and according to the 4-hour chart, XAU/USD is also poised to extend its advance. The pair currently develops above all its moving averages,  with a bullish 20 SMA advancing beyond the longer ones. The 200 SMA stands directionless at $2,645.98, providing support. As per technical indicators, the Momentum indicator grind higher within positive levels, while the Relative Strength Index (RSI) indicator retreats modestly from near overbought readings, not enough to support a bearish movement.

Support levels: 2,664.10 2,645.90 2,632.70

Resistance levels: 2,678.20 2,692.15 2,726

Created on January 09, 2025

• During mid-week trading, gold futures resumed their gains as investors digested the minutes of the Federal Open Market Committee’s latest policy meeting at the bank’s last meeting in 2024.
• Spot gold prices moved to the resistance level of $2670 per ounce before stabilizing around $2664 per ounce at the time of writing this analysis.

According to gold trading company platforms, the price of gold has increased by 1.5% since the beginning of the new year. Similarly, the price of silver attempted to reach $31 per ounce. According to trades, the price of silver increased by 5% in the first trades of 2025.

US Federal Reserve Signals and Their Impact on Gold

Yesterday, the Federal Reserve released the minutes of the Federal Open Market Committee (FOMC) meeting last month. The meeting summary revealed two things: policymakers are concerned about the trade and immigration policies of President-elect Donald Trump, and officials are concerned about inflation risks. The meeting minutes added: “Almost all participants judged that the upside risks to the inflation outlook had increased.” And “as reasons for this judgment, participants cited stronger-than-expected recent readings on inflation and the potential implications of possible changes in trade and immigration policy.”  

For his part, Trump has vowed to impose global tariffs and large levies on Chinese goods. He has also threatened to impose large tariffs on Canada, Mexico and countries involved in anti-dollar efforts.

At the last meeting of 2024, FOMC members voted to cut the US interest rate by another quarter point to a range of 4.25% and 4.5%. However, they now expect only one more quarter-point cut in the US interest rate this year, down from the initial estimate of four quarter-point cuts.  

In general, investors widely believe the Fed will hit the pause button later this month. Ultimately, according to the December minutes, officials believe it would be wise to take a more cautious approach to normalizing US interest rates. Meanwhile, this would normally be bad news for gold and silver markets, precious metals remained positive as Treasury yields fell. The benchmark 10-year yield fell 1.2 basis points to 4.673%. furthermore, lower yields are good for gold prices because they reduce the opportunity cost of holding non-yielding bullion.

Stronger US Dollar Affects the Pace of Gains

According to forex market trades, the US dollar is still hovering near its two-year high. The US Dollar Index (DXY), which measures the performance of the US currency against a basket of other major currencies, has risen to the resistance level of 109.06, its highest level in two years. As is well known, a stronger US dollar is a negative factor for dollar-denominated commodities as it makes them more expensive for foreign investors to buy.  

Trading Tips:

Always keep gold in your trading portfolio and do not forget that it rose last year by 27 percent, supported by global geopolitical tensions, easing central bank policies, and their strong purchase of gold. These factors still exist.

Will Gold Reach $3000?

In this regard, Goldman Sachs has postponed a target for gold prices to $3000 until mid-2026 after expecting gold to reach that level in the new year 2025. Furthermore, the bank reduced its forecast on the back of expectations of fewer cuts by the US Federal Reserve. Against this backdrop, bullish bets by hedge funds have fallen to their lowest level in six months, according to Commodity Futures Trading Commission data.  

In general, the gold price index may remain in its current environment until the interaction with the US jobs report tomorrow, Friday, which is expected to show a moderate but still healthy US labour market. Moreover, the data is unlikely to change the view that the Federal Reserve will take a more cautious approach to cutting US interest rates in 2025 amid renewed concerns about inflation.

Gold Price Technical Analysis and Expectations Today:

According to the daily chart and the forecasts of gold analysts today, the overall trend leans more towards the upside. Also, the bulls are cautiously approaching the psychological resistance level of $2700 per ounce, which could support further strong positive momentum for gold prices. The Relative Strength Index and the MACD on this period are turning upwards and there are opportunities for further gains before reaching strong overbought levels. Overall, I still prefer buying gold from any downward level. Currently, the closest support levels for gold prices are $2648, $2625, and $2600 per ounce.

Ready to trade today’s Gold prediction? Here’s a list of some of the best XAU/USD brokers to check out.

• Silver price moves higher along nine- and 14-day EMAs, establishing a bullish bias.
• The primary resistance appears at the psychological level of $31.00.
• The pair may test initial support at the psychological level of $30.00, followed by the nine-day EMA at $29.83.

Silver prices (XAG/USD) continue their upward trend, extending the winning streak that began on January 1. The grey metal trades around $30.20 per troy ounce during the European hours on Thursday. A closer look at the daily chart suggests a developing bullish bias, with the XAG/USD pair pushing higher along nine- and 14-day Exponential Moving Averages (EMAs), signaling robust short-term price momentum.

The 14-day Relative Strength Index (RSI) has also climbed above the 50 level, reinforcing the bullish sentiment. A further increase in Silver price could indicate growing bullish momentum. However, the alignment of the nine-day EMA with the 14-day EMA still suggests the absence of a strong directional trend in the short-term price movement.

Silver price may face potential resistance at the psychological level of $31.00. A decisive break above this level could bolster bullish momentum, paving the way for the metal to target the two-month high of $32.28, last reached on December 9.

On the downside, immediate support is likely at the psychological level of $30.00, followed by the nine-day EMA at $29.83. A break below this level could weaken short-term momentum, potentially pushing the XAG/USD pair toward the four-month low of $29.82, recorded on December 19.

XAG/USD: Daily Chart

Coffee price today January 9, 2025

Coffee price world All fell sharply after two increases at the beginning of the week, due to the strengthening of the US dollar and high inventories. The strengthening of the US dollar has put pressure on the prices of most commodities, including coffee.

Domestic coffee prices today decreased, trading in the range of 120.000 – 121.000 VND/kg. In the Central Highlands, in the first days of 2025, unseasonal rains almost disappeared and the weather was sunny. These are ideal weather conditions for people to harvest the new coffee crop.

The US dollar rose for a second straight session on Thursday, as US bond yields continued their recent rally, following reports that US President-elect Donald Trump is considering using measures to push through new tariffs.

Speculators have been cutting their net long positions across the board, a major factor influencing coffee prices. The latest Commitment of Traders report from the New York arabica market saw the non-commercial speculative sector reduce its net long position by 3,97% in the trading week ending December 31, 2024. Meanwhile, the London robusta coffee market saw the managed currency speculative sector reduce its net long position by 6,11% in the same period.

The increase in inventories also contributed to the price decline. Arabica coffee inventories tracked by ICE New York rose to a 2,5 yearly high on the day 6/1 reached 993.562 lot. Robusta coffee inventories tracked by ICE London rose to a 3 monthly high on the day 8/1 reached 4.415 lot.

However, the market was still supported by concerns that dry weather in Brazil last year could reduce this year’s crop, according to data from GovermentBrazil’s coffee exports in December fell 12% year-on-year to 17 million bags. The Brazilian Coffee Exporters Association (Cecafe) said there were still delays in loading cargoes due to limited port capacity.

Vietnam, the world’s largest producer of robusta, also saw its exports decline sharply compared to last year. In 2024, Vietnam’s coffee exports of 1,34 million tons of all kinds are expected to decrease by 17,2% compared to 2023. In December alone, Vietnam’s coffee exports reached 12 tons, down 126.000% compared to the same period last year, according to the General Statistics Office of Vietnam.

Vietnam remains the world’s largest supplier of robusta coffee. Despite a 15% decline in coffee production in 2024 due to drought, average prices rose 57% to a record $4.037 a tonne. Coffee exports last year reached $5,5 billion, up 32% from the previous year.

Coffee prices have increased sharply in recent times, according to a representative of the Vietnam Coffee and Cocoa Association (Vicofa). The reason for this is due to many factors: a serious shortage of supply due to a number of factors such as climate change and drought, which have reduced production, while crop conversion has also contributed to pushing prices up. In addition, global conflicts have put pressure on the supply chain, especially when farmers hold onto their goods waiting for good prices after the harvest.

Notes of World & Vietnam, at the end of the trading session on 8/1, the price of robusta coffee on the ICE Futures Europe London monthly delivery term March 2025 turned down 63 USD, traded at 4.956 USD/ton. The monthly delivery term May 2025 decreased 53 USD, traded at 4.877 USD/ton. Low trading volume.

Arabica coffee prices on the ICE Futures US New York exchange fell sharply, with the monthly delivery term March 2025 down 4,05 cents, trading at 316,45 cents/lb. Meanwhile, the monthly delivery term May 2025 down 4,30 cents, trading at 313,00 cents/lb. Trading volume was high on average.

2025 is forecast to continue to see strong growth in coffee demand, particularly in emerging markets and the premium coffee segment, although factors such as climate change and fluctuations in coffee production could pose challenges for the industry.

Countries such as China, India, and Southeast Asian countries are experiencing an increase in coffee consumption. The changing consumption habits of young people in these countries are driving the demand for coffee, especially ready-to-drink and instant coffee.

Specialty coffee and organic coffee are gradually dominating the market, especially in developed countries such as the US and EU. Specialty coffee and coffee with clear origins and sustainability are increasingly popular.

The ready-to-drink coffee market, including instant coffee and pre-packaged coffees, is growing due to their convenience. Coffee pods are also becoming a trend, especially in Western markets.

Climate change may alter coffee production, affecting prices and quality. However, demand for coffee may remain strong thanks to the development of new farming methods and increased attention to sustainable coffee.

Meanwhile, e-commerce platforms and online coffee delivery services are helping to boost consumer access to coffee products, especially in the post-Covid-19 pandemic era.

Coffee demand will continue to grow at a steady rate of about 1-2% per year, due to the growth of new markets and changes in consumption habits in traditional markets. Forecasting global coffee demand in 2025, experts say that global coffee demand could reach 180 million to 200 million bags (1 bag = 60kg), with some regions such as North America, Europe and Asia still accounting for the majority of consumption demand.

• Silver price receives support from safe-haven flows amid uncertainty surrounding inflation and potential Trump tariffs.
• Industrial demand for Silver is set to exceed 700 million ounces (Moz), marking a significant milestone.
• The upside potential for the non-yielding metal may be capped as long-term US bond yields rise.

Silver price (XAG/USD) continues its upward momentum, rising for the sixth consecutive day to trade near $30.10 per troy ounce, close to three-week highs during Thursday’s Asian session. The precious metal, often considered a safe-haven asset, gains support amid uncertainty surrounding inflation and potential tariffs under President-elect Trump’s administration, as highlighted by the US Federal Reserve (Fed).

In addition, robust growth in 2024 has boosted industrial demand for Silver, which is on track to surpass 700 million ounces (Moz) for the first time. This surge is driven by its critical role in solar technology, electric vehicles (EVs), 5G networks, and consumer electronics, positioning Silver as a vital material for advancing innovation and supporting the transition to clean energy solutions.

Moreover, heightened geopolitical tensions have added to market volatility, prompting investors to turn to precious metals like Silver for stability. According to Reuters, a Russian-guided bomb attack on Wednesday claimed the lives of at least 13 people and injured 63 others in Ukraine’s southeastern city of Zaporizhzhia, further fueling safe-haven demand.

The upside of the non-yielding metal could be limited as long-term US bond yields continue climbing on heavy supply. The 10-year rose to 4.73%, while the 30-year approached 4.96% on Wednesday following the Federal Open Market Committee (FOMC) Minutes from the December meeting.

FOMC Minutes showed that Fed policymakers expressed concern about inflation and the impact that President-elect Donald Trump’s policies could have. Fed officials indicated they would be moving more slowly on rate reductions because of the uncertainty. Fed officials penciled the expected cuts in 2025 to two from four in the previous estimate at September’s meeting.

• Gold price corrects from a monthly high of $2,670 early Thursday amid a US holiday.     
• The US Dollar consolidates gains despite Treasury bond yields pullback and risk aversion.
• Gold price risks deeper correction amid impending Bear Cross and as RSI turns south.

Gold price pulls back from a monthly high of $2,670 set on Wednesday as buyers turn cautious after discouraging China’s inflation data and the hawkish Federal Reserve (Fed) Minutes. All eyes now remain on a bunch of Fed speakers due to speak later amid US holiday-thinned market conditions.

Gold price awaits Fedspeak amid looming downside risks

China’s Consumer Price Index (CPI) inflation slowed to 0.1% annually in December from 0.2% in November, aligning with the market estimates while the Producer Price Index (PPI) fell 2.3% year-on-year (YoY) in December, slower than the 2.5% fall in November and coming in as expected.

Slowing Chinese inflation suggested a weakening domestic demand in the world’s biggest consumer, accentuating the economic concerns despite several stimulus efforts by the authorities. Growing China’s economic worries add to the pullback in the Gold price as the dragon nation is the world’s top Gold consumer.

Further, Gold price bears the brunt of the recent US Dollar (USD) upswing and elevated US Treasury bond yields amid a slew of strong US data, including the JOLTS Job Openings survey, Jobless Claims and ISM Manufacturing and Services PMI, which continues to back the case for fewer interest rate cuts by the Fed this year.

Additionally, the hawkish Minutes of the Fed’s December meeting offset the weak US ADP Employment Change data on Wednesday, allowing Gold sellers to stage a comeback after two straight days of gains. The Minutes showed that Fed policymakers expressed concern about inflation and the impact of US President-elect Donald Trump’s immigration and trade policies, suggesting that they would be moving more slowly on rate cuts.

Looking ahead, Gold traders will closely scrutinize speeches from Richmond Fed President Tom Barkin, Kansas Fed President Jeffery Schmid and Fed Governor Michelle Bowman for fresh insights on the US central bank’s future rate cuts.

However, speculations surrounding incoming US President Trump’s tariff plans will continue to rock Gold markets, with moves likely to be exaggerated by a partial US holiday on account of a national day of mourning for former President Jimmy Carter.

On Wednesday, citing four sources familiar with the matter, CNN News reported that US President-elect Donald Trump is considering declaring a national economic emergency to allow for a new tariff program by using the International Economic Emergency Powers Act, known as “IEEPA. The headline triggered a sharp US Dollar advance, notwithstanding the weaker-than-expected US ADP private payrolls data, which came in at 122K in December, against a 140K print expected.

Gold price technical analysis: Daily chart

The daily chart shows that the 14-day Relative Strength Index (RSI) has turned lower toward the midline, though holding well above it. This suggests that Gold buyers could be facing some exhaustion.

Adding credence to the dwindling recovery momentum, the 21-day Simple Moving Average (SMA) is set to cross the 100-day SMA from above, which, if materialized on a daily closing basis, would validate a Bear Cross.

If the Gold price correction extends, the initial demand area will be seen at the 50-day SMA of $2,644. A sustained move below that level will challenge the confluence of the 21-day SMA and the 100-day SMA at $2,632.

Deeper declines will call for a test of the January 6 low of $2,615, followed by the $2,600 round level.

On the other hand, should Gold buyers jump back on the bids, the $2,665 static resistance must be scaled sustainably.

Further up, the December 13 high at $2,693 and the $2,700 level will be next on buyers’ radars.  

Signs of Weakening

That was the second day since the 20-Day MA was reclaimed on October 29 that there has been a daily close below the 20-Day line. The first was three days ago, which generated a higher swing low (B). In addition, Tuesday’s bearish reversal day generated a lower swing high (C). These are signs of weakening that might lead to something or not.

Support at 3.43 and Resistance at 3.74

Support was successfully tested again today around the trendline and the price area showed support. Thereafter, buyers took back control shortly after the opening on Wednesday. Natural gas is on track to close strong, in the upper third of the day’s price range, at the time of this writing. It continues to trade near the high, which was 3.68. The low for the day is 3.43, a match with Tuesday.

Therefore, 3.43 provides a specific price support level to watch, which is needed to confirm price behavior around the trendline. A drop below 3.43 would follow another decline below the 20-Day MA, which is now at 3.54, and the trendline. This leaves 3.43 as a key short-term price level, as a drop below it may lead to a continuation of the bearish trend with a drop below the recent swing low at (B).

Bullish on Rise Above 3.74

On the upside, a lower swing high was generated yesterday following the day’s high of 3.74. Subsequently, sellers took back control, leading to a bearish reversal day and a weak close near the lows of the day and the trendline. Natural gas remains at risk of further downside unless there is a decisive advance above 3.74. That would trigger a bullish trend continuation signal and eliminate the lower swing high.

For a look at all of today’s economic events, check out our economic calendar.