Natural gas broke above the top of its descending triangle pattern on the hourly chart, indicating that an uptrend of the same height as the formation might follow. Price is still pulling back to retest the broken resistance where more buyers might be looking to hop in. This lines up with the 38.2% Fibonacci retracement level at the $4.900 mark, as well as the dynamic support at the moving averages. However, the 100 SMA is still below the 200 SMA to indicate that the path of least resistance is to the downside. RSI is also turning lower and has room to head down before reflecting exhaustion among sellers. A larger ... (full story)