Natural Gas Price Analysis for October 15, 2024

From fxdailyreport.com

Natural gas fell through its head and shoulders neckline to signal that a reversal from the uptrend is in the works. Price could tumble by the same height as the chart formation, which spans around $2.500 to $2.800. The 100 SMA is above the 200 SMA, though, so the path of least resistance could still be to the upside. In other words, there’s a good chance that the uptrend could resume and take natural gas back up to the latest highs or higher. The gap between the indicators is even widening to reflect strengthening bullish pressure. However, price has already broken below the 100 SMA dynamic inflection point and is ... (full story)