Short term view - SNAM RETE GAS : The moving average is capping prices.
The trend is still bearish, the invalidation level is above €4.040. The target is at €3.790.Arguments :
- Prices have pulled back to the major resistance level (previously a support). The fall is now resuming.
- The 50% retracement has been reached.
- The moving average is...
Snam is engaged in the construction and integrated management of natural gas infrastructure. It manages the gas systems, develops infrastructure and provides integrated services for the market. Co. is also engaged in natural gas transportation, storage, regasification and urban distribution. Co. manages a national transportation network, including eight storage facilities, one regasification plant and a local distribution network.
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