Natural gas has formed lower highs connected by a falling trend line that’s been holding since last week. Price is stalling at the latest lows and might be in for another quick pullback. The Fibonacci retracement tool shows additional levels where sellers might be waiting. The 38.2% Fib is at $1.671, then the 50% level is at $1.686. The 61.8% Fib is closest to the trend line and area of interest at $1.697, as well as a major psychological mark. The 100 SMA is crossing below the 200 SMA to signal that the path of least resistance is to the downside or that the selloff is more likely to gain traction than to reverse. ... (full story)