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Natural Gas Outlook: Testing Support Levels Amid a Deeper Retracement
video Natural gas falls to test support around the 78.6% Fibonacci retracement. The descent stopped at a low of 3.02, leading to a minor bounce. This is an area where natural gas should see strong support if it retains a bullish outlook in the bigger picture. There is no sign of that yet as it has stopped at the support zone but has not yet turned up if it is to do so. Downward pressure remains as natural gas is still trading near the lows of the day at the time of this writing. chart The previous retracement from the October 9 swing high reversed off the 61.8% Fibonacci retracement level and led to the October ... (full story)