Natural Gas Soars to New Heights Amidst Supply Disruptions and Market Breakout
Natural gas has surged to a 36-week high, completing a 23.6% Fibonacci retracement and pushing towards the next target. However, it is entering overbought territory, signaling caution for bulls. While there are signs of strength, potential resistance and the need for a price correction are present. Support levels to watch include the 200-Day EMA and the long-term downtrend line. Higher targets are possible, but they also indicate a potential resistance area.