Natural Gas Market Outlook: Bearish Momentum Persists Amidst European Reserves and Price Fluctuations
TL;DR Summary
Natural gas is experiencing a bearish retracement, with the market falling to a low of 2.94. The decline is expected to continue, with the next support zone identified at 2.90 to 2.88. The monthly chart is showing a bearish inverted hammer candlestick pattern, indicating a potential reversal in natural gas. However, if natural gas can get back above the 200-Day EMA before the end of the month, it may remain bullish and attempt to reach new highs.
Topics:business#bearish-momentum#energy#market-forecast#natural-gas#price-behavior#technical-analysis
- Natural Gas Forecast: Bearish Momentum Continues, What’s Next for the Market? FX Empire
- Bearish Storage Injection Sends November Natural Gas Futures Reeling Natural Gas Intelligence
- Natural Gas could extend correction with European reserves armed to handle Middle East supply cut FXStreet
- Natural Gas Price Forecast – Natural Gas Markets Continue to Hang on to $3 FX Empire
- Natural gas price fluctuates above the moving average – Analysis – 20-10-2023 Economies.com
- View Full Coverage on Google News
Reading Insights
Total Reads
0
Unique Readers
0
Time Saved
3 min
vs 4 min read
Condensed
89%
671 → 77 words
Want the full story? Read the original article
Read on FX Empire