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Natural Gas Price Analysis for April 1, 2024
Natural gas continues to trend lower on its hourly time frame, forming lower highs and lower lows inside a falling channel and currently testing resistance. If the ceiling holds, natural gas could fall back to the downside targets marked by the Fibonacci extension too. The 38.2% level is at $1.613, then the 50% level is at $1.597. Sustained selling pressure could take the commodity price down to the 61.8% level at $1.582 or the 76.4% Fib near the channel support. The full extension is at $1.532. The 100 SMA is below the 200 SMA to indicate that the path of least resistance is to the downside or that resistance is ... (full story)