Projected Natural Gas Price: Targeting 2.46

Welcome to the Extreme Investor Network blog, where we provide unique insights and analysis on the stock market, trading strategies, and trends in the financial industry. Today, we will be discussing the latest developments in the natural gas market and key price levels to watch for potential retracement.

A retracement in natural gas is first indicated on a drop below the low of 2.31, with possible support levels at 2.23, 2.21, and 2.18. This comes after the fourth consecutive week of positive performance for natural gas, with the current trading near the highs of the day and targeting the 2.46 zone. The 20-Day MA stands at 2.04, potentially serving as support in case of a retracement.

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As natural gas approaches the key 2.46 pivot, price action will provide clues on potential outcomes. With indicators pointing to a resistance zone from 2.37 to 2.49, an upside breakout above the 200-Day line is less likely but still possible. A consolidation or retracement could follow a test of the 200-Day line, with potential movements towards Fibonacci retracement levels and the top channel line.

Keep an eye on the reaction of price as it approaches the 200-Day line for further insights into market direction. For more information on today’s economic events and how they may impact your trading decisions, be sure to check out our comprehensive economic calendar.

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