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Natural Gas Price Analysis for July 11, 2024
Natural gas might be in for a reversal from its selloff, as the commodity price formed higher lows and is testing the resistance on the short-term falling trendline. Technical indicators are also hinting at a potential return in upside momentum. The 100 SMA is below the 200 SMA for now, but the gap between the indicators has narrowed enough to signal weakening bearish pressure and a potential bullish crossover. Price is also starting to close above the 100 SMA dynamic inflection point and may be poised to test the 200 SMA dynamic resistance soon. Stochastic is on the move up to suggest that bullish pressure is ... (full story)
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- Posted: Jul 11, 2024 5:54am
- Submitted by:Category: Technical AnalysisComments: 0 / Views: 209
