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Natural Gas Price Analysis for February 28, 2024
Natural gas is still trending higher on its hourly time frame, with price bouncing off the bottom and testing the middle once more. A break above this area of interest could take the commodity back up to the channel top around $1.900. The 100 SMA is above the 200 SMA to indicate that the path of least resistance is to the upside or that the uptrend is more likely to gain traction than to reverse. Price is also above both moving averages, so these could hold as dynamic support on dips close to the channel bottom at $1.700. Stochastic is heading down to show that sellers are regaining the upper hand while exhausted ... (full story)