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Natural Gas Price Forecast: Potential Pullback Ahead as Price Approaches Key Levels
video Additional consolidation around this week’s high of 2.26 continues in natural gas today as it tests support around 2.17. The 2.17 price level was busted last week on the rally to the 38.2% Fibonacci retracement target zone and now is showing minor support. Further signs of strength were seen briefly earlier in today’s session as the 2.26 high was exceeded to reach 2.27. However, it looks like natural gas may end in the red and short-term bearish, in the lower third of the day’s price range. Subsequently, if it falls below today’s low of 2.17 a deeper retracement may be in the works. And a decline ... (full story)