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"Rising US Power Prices and Steep Storage Draw Drive Natural Gas Momentum"

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Source: FX Empire
"Rising US Power Prices and Steep Storage Draw Drive Natural Gas Momentum"
Photo: FX Empire
TL;DR

Natural gas retraced its gains after encountering resistance at the 78.6% Fibonacci retracement, with potential support at 2.96 and signs of a correction. Bullish reversal signals were confirmed on the monthly chart, and moving averages indicate an improving outlook, with attention on the 200-Day line at 2.64 as a key level to watch.

Topics:businessenergy-markets#bullish-reversal#energy-markets#fibonacci-retracement#market-analysis#moving-averages#natural-gas
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  1. Natural Gas: Assessing the Retreat and the Road Ahead  FX Empire
  2. US power prices soar ahead of extreme cold and record natgas demand  Yahoo Finance
  3. Natural Gas not impressed after slowdown in US disinflation with surprise uptick in energy complex  FXStreet
  4. Natural Gas Technical Analysis January 12, 2024 by Chris Lewis for FX Empire  FX Empire
  5. Steep Storage Draw Fuels Upward Momentum for February Natural Gas Futures  Natural Gas Intelligence

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