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Natural Gas Price Forecast: Eyes on 2.46 Target
video Natural gas reached a new trend high of 2.42 on Wednesday as the bull trend persists. It is rapidly approaching the next higher target of 2.46. That is where the 200-Day MA and 50% retracement resides. The 200-Day line is a significant trend indicator, and this is the first approach since the price of natural gas dropped below the 200-Day MA in late-January. Therefore, it expected that resistance will be seen around that line, enough to turn prices back down. A little higher is the 50-Week MA at 2.49 chart A retracement is first indicated on a drop below today’s low of 2.31. Prior swing highs and lows ... (full story)