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Natural Gas Price Analysis for September 5, 2023
Natural gas appears to be forming a complex head and shoulders pattern on its 4-hour time frame, and price is setting its sights back on the neckline support again. A break below the $2.500 area could set off a drop that’s the same height as the chart formation, which spans around $0.500. Technical indicators are giving mixed signals, though. The 100 SMA just crossed below the 200 SMA to indicate that the path of least resistance is to the downside or that support is more likely to break than to hold. Price is also moving below both indicators, so these could hold as dynamic resistance from here. RSI has some room ... (full story)