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Natural Gas Price Analysis for November 29, 2023
Natural gas is breaking below its descending wedge support to signal that a steeper downtrend may be in the works. Price could drop by the same height as the chart formation from here. Technical indicators are looking mixed, though. The 100 SMA is below the 200 SMA to confirm that the path of least resistance is to the downside or that further losses are likely, and natural gas is trading below both dynamic inflection points. However, stochastic is already dipping into the oversold region to signal exhaustion among sellers, so turning higher would suggest that buyers are returning. RSI already looks ready to pull up, ... (full story)