Natural Gas Price Analysis for Jan. 24, 2023

Natural Gas Price Analysis for Jan. 24, 2023

From fxdailyreport.com

Natural gas might be in for a reversal from its selloff, as the commodity price broke through its descending trend line and a short-term double bottom. Technical indicators, however, are still pointing to declines. The 100 SMA is below the 200 SMA to indicate that the path of least resistance is to the downside or that the selloff is more likely to resume than to reverse. Price is inching closer to testing the 200 SMA dynamic inflection point, and a break higher could confirm that an uptrend is due. Stochastic is indicating overbought conditions or exhaustion among buyers, so turning lower would signal that sellers ... (full story)

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