Natural gas prices have been in a downward trend since the summer of 2022.
Natural gas prices have been in a downward trend since the summer of 2022.
The recent weekly close below $6.00 per MMBtu confirms a bearish death cross.
The recent weekly close below $6.00 per MMBtu confirms a bearish death cross.
This is a bearish technical signal that suggests further losses may be ahead.
This is a bearish technical signal that suggests further losses may be ahead.
The next downside target is the 200-week moving average at $5.25 per MMBtu.
The next downside target is the 200-week moving average at $5.25 per MMBtu.
However, if prices break below this level, the downside could accelerate towards $4.50 per MMBtu.
However, if prices break below this level, the downside could accelerate towards $4.50 per MMBtu.
There are some signs of support near $5.50 per MMBtu, but this level may not hold if the bearish trend continues.
There are some signs of support near $5.50 per MMBtu, but this level may not hold if the bearish trend continues.
Traders should remain cautious on natural gas and look for opportunities to sell into strength.
Traders should remain cautious on natural gas and look for opportunities to sell into strength.
The bearish death cross is a significant technical signal that should not be ignored.
The bearish death cross is a significant technical signal that should not be ignored.
However, it is important to remember that technical analysis is not always accurate and should be used in conjunction with other factors when making trading decisions.
However, it is important to remember that technical analysis is not always accurate and should be used in conjunction with other factors when making trading decisions.
Ultimately, the direction of natural gas prices will be determined by the fundamentals, such as supply and demand.
Ultimately, the direction of natural gas prices will be determined by the fundamentals, such as supply and demand.