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Natural Gas (NATGAS/USD) Price Technical Analysis for Dec. 6, 2021

From fxdailyreport.com

Natural gas has been selling off in the past weeks, but price might find support at nearby long-term areas of interest visible on the weekly chart. Price is testing the 61.8% Fibonacci retracement level around $4.000 and might also find buyers at the rising trend line support. Technical indicators are suggesting a return in bullish pressure soon. The 100 SMA is crossing above the 200 SMA to indicate that the path of least resistance is to the upside or that support is more likely to hold than to break. These moving averages are just below the trend line support around $3.000 per barrel. RSI has some room to head ... (full story)

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  • Category: Technical Analysis