Natural Gas Market: Levels, Prices, and Inventories Analyzed
TL;DR Summary
Natural gas is currently trading near trend highs and facing resistance at the top trend channel line and the 50% retracement level. An upside breakout above 3.45 could lead to higher targets at 3.61 and a resistance zone from 3.77 to 3.85. However, a downside correction may occur if natural gas drops below 3.34, with potential support at the 200-Day EMA (3.18) and the 3.02 price zone. A drop below 3.02 could test the long-term downtrend line or uptrend line at 2.90.
Topics:business#energy-markets#natural-gas#price-forecast#resistance-levels#retracement#technical-analysis
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