Natural Gas Prices Set to Rise Despite Negative Sentiment
Natural gas is showing bullish momentum, with a potential breakout above the five-day high of 2.49 indicating further strength. A bullish doji hammer candlestick pattern suggests a possible rally towards the 20-Day MA at 2.68 and the 38.2% Fibonacci retracement at 2.77. However, a key resistance zone at 2.88 may pose a challenge. There is also a risk of a test of recent lows before a rally. The breakdown of a bearish flag in November suggests the potential for new lows, but patterns can be unpredictable.