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Natural Gas Price Analysis for Dec. 7, 2021
Natural gas formed lower highs connected by a short-term falling trend line. A pullback to this resistance area could follow soon, as price is finding some support around $3.600. Applying the Fibonacci retracement tool shows where more sellers might be waiting to hop in. The 38.2% Fib lines up with a short-term area of interest around $3.830 while the 50% Fib is closer to the trend line at $3.900. The 61.8% level is near the $4.000 major psychological mark, which might be the line in the sand for a correction. The 100 SMA is below the 200 SMA to indicate that the path of least resistance is to the downside or that ... (full story)