Natural Gas Price Analysis for Nov. 25, 2022

From fxdailyreport.com

Natural gas might be in for a retest of the broken descending trend line resistance on its 4-hour time frame, as price is trading inside a newly-forming rising channel. The Fib retracement tool shows that the channel support lines up with the 61.8% Fib around the former trend line. This is also near the dynamic support at the moving averages, which could add to its strength as a floor near $6.000. The 100 SMA is crossing above the 200 SMA to confirm that the path of least resistance is to the upside or that support is more likely to hold than to break. A shallow pullback could find support at the 38.2% Fib around ... (full story)