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Natural Gas Price Analysis for September 26, 2023
Natural gas seems to be completing its retest of the broken support zone around the $2.700 mark and might be setting its sights on the downside targets marked by the Fib extension tool. The 38.2% level is at $2.617, then the 50% level is at $2.594. Stronger selling pressure could take it down to the 61.8% Fib at $.2571 near the swing low or the 76.4% extension at $2.543. The full extension is at $2.497 near the $2.500 major psychological mark. The 100 SMA just crossed below the 200 SMA to confirm that the path of least resistance is to the downside or that the selloff is likely to resume. Natural gas seems to be ... (full story)