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Natural Gas Price Analysis for September 6, 2023
Natural gas is still on the move down and is approaching the long-term support at $2.450. Price could be in for a bounce from here, although technical indicators are looking mixed. The 100 SMA is below the 200 SMA to indicate that the path of least resistance is to the downside or that there’s a chance support might break. In that case, natural gas could be in for a longer-term slide to the next floor. Price is also trading below both moving averages, so these could hold as dynamic resistance on a bounce to the $2.650-2.700 region. Stochastic is already indicating oversold conditions or exhaustion among sellers, so ... (full story)