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Natural Gas Price Analysis for Jan. 25, 2023
Natural gas resumed its selloff, as the commodity price fell back below the trend line resistance around $3.400. Price is testing the bottom of a falling wedge pattern at the $3.100 level. A bounce could lead to another test of the resistance or even a break higher. A move below support, on the other hand, could set off a drop that’s the same height as the chart pattern. Stochastic is already indicating oversold conditions or exhaustion among sellers, so turning higher would confirm that buyers are ready to return. RSI has also just made it to the oversold region to reflect exhaustion among bears but has yet to ... (full story)
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- Posted: Jan 25, 2023 6:44am
- Submitted by:Category: Technical AnalysisComments: 0 / Views: 83
