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Natural Gas (NATGAS/USD) Price Technical Analysis for January 25, 2024
Natural gas was trending lower on its hourly time frame, and price has just busted through the short-term descending trend line to signal that a reversal is in the works. Technical indicators are still pointing to more losses, though. The 100 SMA is below the 200 SMA to indicate that the path of least resistance is to the downside or that the selloff is more likely to gain traction than to reverse. Price is climbing above the 100 SMA, though, as an early indication of upside pressure. The 200 SMA might still hold as dynamic resistance around $2.600. Stochastic is indicating overbought conditions or exhaustion among ... (full story)