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Natural Gas Price Analysis for November 14, 2023
Natural gas is still in correction mode, as the commodity price is pulling up to the former support area around $3.100. This lines up with other inflection points that might keep gains in check. In particular, the area of interest coincides with the 50% Fibonacci retracement level and 200 SMA dynamic resistance. A higher pullback could reach the 61.8% Fib at $3.116, which might be the line in the sand for a bearish correction. The 100 SMA is below the 200 SMA to confirm that the path of least resistance is to the downside or that the selloff is more likely to resume than to reverse. In that case, natural gas could ... (full story)