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Natural Gas Price Analysis for February 21, 2024
Natural gas is finally pulling up from its slide and might be in for a correction to nearby resistance levels. The Fibonacci retracement tool shows where more sellers might be looking to hop in. The 38.2% Fib is at $1.962 near the 100 SMA dynamic inflection point, then the 50% level is at $2.087. A larger pullback could reach the 61.8% Fib near the former support zone that might hold as resistance. The 100 SMA is below the 200 SMA to indicate that the path of least resistance is to the downside or that the selloff is more likely to gain traction than to reverse. The gap between the moving averages is widening to ... (full story)