Natural Gas Price Analysis for September 4, 2024

From fxdailyreport.com

Natural gas could be bracing for a long-term reversal from its selloff, as price is forming a double bottom on its 4-hour chart. The commodity has yet to test and break the neckline around the $2.200 mark to confirm a potential uptrend. If that happens, natural gas could climb by the same height as the chart formation, which spans $1.850 to $2.200. The 100 SMA is crossing above the 200 SMA to indicate that the path of least resistance is to the upside or that the reversal is likely to gain traction. However, price is still below both moving averages, so these could hold as dynamic resistance in the near term. At the ... (full story)