Navigating the Bearish Trend: Natural Gas Markets Flirt with Losses
TL;DR
Natural gas is experiencing a bearish trend, with prices falling below key technical levels such as the 55-Day EMA and the 2.60 swing low. The next potential targets for a decline are the 78.6% Fibonacci retracement at 2.58 and the 88.6% retracement at 2.54. The weekly candlestick pattern suggests a possible failure of the recent upside breakout, while the monthly chart shows a tightening consolidation. If natural gas breaks out of this range, it could accelerate in the direction of the breakout, with a downside continuation being a likely resolution.
Topics:businessenergy-markets#bearish-trend#candlestick-patterns#energy-markets#fibonacci-retracement#natural-gas#technical-analysis
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