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Natural Gas Price Analysis for January 15, 2024
Natural gas appears to be breaking below its near-term rising trend line support, opening the path for a move to the next downside targets. However, technical indicators are still pointing to the presence of bullish pressure. The 100 SMA is above the 200 SMA to indicate that the path of least resistance is to the upside or that support is likely to hold. In that case, natural gas might still bounce off the 200 SMA dynamic inflection point and aim for the highs past $3.300. Stochastic is on the move down and has room to slide before reflecting oversold conditions or exhaustion among sellers, so bearish momentum might ... (full story)