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Natural Gas Price Analysis for September 21, 2023
Natural gas might be in for a reversal from its short-term rally, as the commodity price is forming a double top pattern on the hourly time frame. Price has yet to test and break below the neckline around $2.600 to confirm the downtrend. If that happens, natural gas could fall by the same height as the chart formation or around $0.150. Technical indicators, however, are suggesting that support levels are more likely to hold than to break. The 100 SMA is above the 200 SMA to indicate that the path of least resistance is to the upside, and the 200 SMA seems to be holding as dynamic support. In that case, price might ... (full story)