Natural gas seems to be completing its pullback as price is hitting resistance at the falling trend line on the 1-hour time frame. Applying the Fibonacci extension tool shows the next potential downside targets. The 38.2% extension level lines up with the swing low around $2.150 while the 50% level is at $2.113. Stronger selling pressure could take price down to the 61.8% extension at $2.074 or the 78.6% level at $2.020. The full extension is at $1.951. The 100 SMA is below the 200 SMA to confirm that the path of least resistance is to the downside or that the selloff is more likely to gain traction than to reverse. ... (full story)