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Natural Gas Price Action Setup: Is This It?

February 28, 2023

Via: DailyFX
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The sharp rebound in natural gas in recent days is a sign that bears are getting exhausted. However, it may be premature to assume that the worst is over.

Natural gas fell to a 2.5-year low last week before rebounding 35% over four sessions, raising the prospect that the fall below immediate support at the early-February low of 2.50 was a false break. Given deeply oversold conditions on higher timeframe charts, a short-term consolidation/ minor gains may have started. For more on a big-picture perspective, see “Natural Gas Price Action Setup: Is the Slide Overdone?”, published February 21.

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