Merck & Company (MRK): Building Strength, Paving the Way for Potential Upside
$86.28
Merck & Company (MRK): Building Strength, Paving the Way for Potential Upside
31 Oct 2025, 11:49
Chart & Data from IG
Natural Gas prices are looking more positive as of recently, with now what seems like a breakout towards the upside on the weekly chart. Currently, the NG is trading at around $2.767 per gallon. We can see the breakout occurred on the week commencing 6th of May leading to a strong rise the following week (engulfing candlestick). The price is now approaching a key resistance zone, which is highlighted using the red channel. A rise into the area will see traders face resistance between $2.615-$3.121. A break into the area followed by consolidation could lead to a push above $3.121, shifting the focus to the area of $3.400-$3.600. On the other hand, a rejection within the red channel may lead to a pullback towards the breakout area ($2.230-+-$2.240). However, there are levels that may provide enough support to avoid losing the recent gains, with support at $2.586 and then $2.479. Based on the technical indicators, the bias points to a bullish outlook. The MACD is positive and rising with an enlarging volume, and the RSI is already positive as it reads 62. Another key point to take away from the technical indicators is that the MACD seems like it may be forming a bullish divergence. The technical indicator is creating higher lows even though the price created a lower low, suggesting that buying volume has been increasing.