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Natural Gas Price Analysis for June 11, 2024
Natural gas recently broke through the resistance at the $2.800 mark and reached a high of $2.940 before pulling back. Price seems to have completed its retest and is resuming the climb to the swing high. A larger correction might still test the Fib levels to draw more buying pressure. The 38.2% Fib is holding so far at $2.734 while the 50% level is at $2.671 near the 100 SMA dynamic support. The 61.8% Fib might be the line in the sand for a pullback at $2.608, as a break below this could set off a drop to the next support zone at the swing low. The 100 SMA is above the 200 SMA to indicate that the path of least ... (full story)