Natural gas is pulling up from a strong rally in the previous week, as resistance around $5.600 is holding. Price is closing in on the support areas marked by the Fibonacci retracement tool. The 38.2% level is close by at $4.909 then the 50% level is at $4.685. A larger correction could reach the 61.8% Fib at $4.462, which lines up with the 200 SMA dynamic inflection point. On the subject of moving averages, the 100 SMA is above the 200 SMA to confirm that the path of least resistance is to the upside or that support levels are more likely to hold than to break. In that case, natural gas could soon resume the climb ... (full story)