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Natural Gas Price Forecast: Will Support Hold or Breakdown Continue?
video Natural gas breaks down from a symmetrical triangle on a drop below Wednesday’s low before finding support at 1.60 and bouncing. The high for the day was 1.675, which completed a test of resistance at the long-term downtrend line. Support is around the most recent swing low of 1.59. If broken to the downside and natural gas stays below it, lower prices may be coming. chart The trend low of 1.52 from February is a significant support level going back 29 years. Although a breakdown from consolidation has triggered, downside follow through is key. Will selling pressure accelerate or support hold and ... (full story)