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Natural Gas Price Forecast: Eyes Bullish Reversal from Retracement Low
video Natural gas falls to a new retracement low of 1.69 before finding support and bouncing intraday. It is possible that today completes a two-day retracement as a 61.8% Fibonacci level was just below today’s low at 1.68. Today’s high of 1.76 found resistance at the 20-Day MA (purple). Today’s candle sets up for a bullish reversal signal on a decisive rally above today’s high. Natural gas would then be heading for the recent swing high of 1.83 with the potential to breakout above that price level. chart A rally above 1.83 would trigger a continuation of the rally begun from the recent swing low at 1.59 ... (full story)