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Natural Gas Price Analysis for December 14, 2023
Natural gas is testing its descending trend line visible on the hourly time frame and looks ready to resume the slide to the downside targets. The Fibonacci extension tool shows the levels that sellers might be aiming for. The 38.2% extension is at $2.212 while the 50% level is at $2.186. Stronger selling pressure could take it down to the 61.8% Fib at $2.161 or the 76.4% level that lines up with the swing low. The full extension is at $2.077. The 100 SMA is below the 200 SMA to suggest that the path of least resistance is to the downside or that the downtrend is more likely to gain traction than to reverse. The 100 ... (full story)