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Natural Gas Triggers Bearish Trend Continuation
video Natural gas fell to a new trend low on Wednesday and is fast approaching its next potential support zone. As of the day’s 3.05 low, it was down as much as 59.8% off the November 23, 2022, at the time of this writing. That decline occurred quickly, in only 41 trading days. It continues its descent below the 12-Day EMA, which was tested as resistance specifically at Tuesday’s 3.59 high before price was reversed to the downside. chart For the past 11 days or so natural gas has been falling within a small parallel trend channel. Tuesday’s test of the 12-Day line attempted a breakout of the channel as ... (full story)
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- Posted: Jan 25, 2023 5:40pm
- Submitted by:Category: Technical AnalysisComments: 0 / Views: 80
