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Natural Gas Price Analysis for August 15, 2023
Natural gas broke above the resistance at $2.735 then hit another ceiling at $3.000 before pulling back. The former resistance seems to be holding as support at the moment, so the commodity might resume the climb to the next upside targets. The Fibonacci extension tool shows levels where buyers might be aiming for. The 38.2% Fib is at $2.925, then the 50% level is at $2.993 near the swing high. Sustained bullish pressure could take natural gas up to the 61.8% extension at $3.061 or the 76.4% level at $3.146. The full extension is at $3.283. The 100 SMA is above the 200 SMA to indicate that the path of least ... (full story)