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Natural Gas Prices Face Resistance Amid High Production and Market Pullback

1 min read
Source: FX Empire
Natural Gas Prices Face Resistance Amid High Production and Market Pullback
Photo: FX Empire
TL;DR Summary

Natural gas prices have fallen and tested the internal uptrend line as support, with an intraday bounce following. The combination of the uptrend line and the 50-Day EMA provide good reason to believe that the support zone will hold. However, the failure to hold above the 200-Day EMA for the second time indicates weakness and caution. The rising angle of ascent is at risk, but the intermediate trend represented by the 50-Day EMA is strengthening.

Topics:business#energy-markets#natural-gas#price-forecast#support-levels#technical-analysis#trendlines
Share this article
  1. Natural Gas: Testing Support and Implications for Future Prices  FX Empire
  2. Natural Gas Futures Lose Ground As Production Stays High; Cash Prices Halt Losing Streak  Natural Gas Intelligence
  3. Natural Gas Futures: Extra losses in store near term  FXStreet
  4. Natural Gas Technical Analysis for November 09, 2023 by FXEmpire  FX Empire
  5. Natural Gas Forecast: Markets Continues to Pullback  DailyForex.com

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