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Natural Gas Price Analysis for February 4, 2025
Natural gas recently fell through support around the $3.800 level then dipped to $3.300 before bouncing. Price has gapped higher and is testing the 50% Fibonacci retracement level on the latest slide. A larger pullback could still reach the 61.8% Fib at $3.776, which is near the broken support and might be the line in the sand for a bearish correction. A break above this level could be indicative of a reversal from the downtrend. The 100 SMA is below the 200 SMA, however, suggesting that the path of least resistance is to the downside or that the selloff is more likely to resume than to reverse. The 200 SMA dynamic ... (full story)