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Navigating Natural Gas: Price Trends and Support Zones

From fxempire.com

{video} Following a bearish trend continuation signal earlier in today’s session natural gas found support at a low of 2.88. The decline completed a 61.8% Fibonacci retracement at 2.90 and found support at the June 28 swing high. This could be the completion of the retracement but there is no sign of it yet other than natural gas reached the next lower potential support zone and bounced. However, natural gas has been falling relatively hard so it may take some time and further testing of lows before the correction is over. {chart} If natural gas continues to decline, or bounces first then turns back down, the next ... (full story)

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  • Category: Technical Analysis