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Natural Gas Price Analysis for December 28, 2023
Natural gas is finding support at its short-term rising trend line on the hourly time frame, possibly setting its sights on the bullish targets from here. The Fibonacci extension tool shows the next potential resistance levels. The 38.2% Fib is close by at $2.470, then the 50% level is at $2.495. Stronger bullish momentum could take it up to the 61.8% Fib at $2.519 near the swing high or the 76.4% level at $2.549. The full extension is at $2.598. Technical indicators are pointing to a continuation of the climb. The 100 SMA is above the 200 SMA to confirm that the uptrend is more likely to gain traction than to ... (full story)