Natural Gas Prices Set to Rise Despite Negative Sentiment
TL;DR
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.
Topics:businesscommodities#bearish-flag#bullish-momentum#commodities#natural-gas#resistance-zone#technical-analysis
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