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Natural gas prices appear to have reinforced support following fading downside momentum. On the 4-hour chart, the heating commodity is trying to confirm a breakout above a bullish Falling Wedge.
Natural gas prices continue aiming lower, but downside momentum is fading. That can at times precede a reversal as a Falling Wedge brews on the 4-hour timeframe.
From last week’s high to close, natural gas prices fell 12.5% as the broader downside focus remained in focus. For the week ahead, keep a close eye on the Falling Wedge on the 4-hour setting.
Natural gas prices are struggling to clear support as a bullish chart formation brew on the 4-hour chart. Still, the broader bearish technical bias remains in focus.
Natural gas prices sank almost 20% last week after teasing traders with solid gains beforehand. The broader technical bias remains bearish. What are key levels to watch ahead?