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Natural Gas Weekly Price Forecast – Natural Gas Markets Break through a Major Support Level

From fxempire.com

Natural gas markets have fallen hard during the week to break down below the $6.50 level, an area that has been imported more than once. The fact that we are below there does suggest that the natural gas market is trying to break back down due to the fact that the Fremont terminal has no capacity to send LNG to the European Union. The European Union has changed its attitude on coal, as places like Germany are having to go back to it due to the lack of natural gas coming out of Russia. If we break down below the bottom of the weekly candlestick, is likely that we go looking to the $6.00 level. If we break it down ... (full story)

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  • Category: Technical Analysis