Natural gas is in correction mode inside its ascending channel forming on the hourly time frame. Price is dipping to the mid-channel area of interest. This lines up with the 50% Fibonacci retracement level that might be enough to keep losses in check. A larger pullback could reach the 61.8% Fib at $1.717 or the channel bottom closer to $1.700. If any of the Fibs hold as support, natural gas could resume the climb to the swing high at $1.889 or the channel top closer to $1.900. The 100 SMA is above the 200 SMA to indicate that the path of least resistance is to the upside or that support is more likely to hold than to ... (full story)