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Natural Gas (NATGAS/USD) Analysis for May 3, 2021
Natural gas is trending higher on its 1-hour chart but seems to have had a shallow pullback and is gaining traction on its climb again. In that case, price could make its way up to the next upside targets marked by the Fibonacci extension tool. The 100 SMA is above the 200 SMA to confirm that the uptrend is more likely to carry on than to reverse, and the faster-moving MA held as dynamic support. The gap between the moving averages is also widening to reflect strengthening bullish momentum. A larger pullback could still reach the trend line support around $2.800 that lines up with the 200 SMA dynamic inflection ... (full story)