economic calendar<\/a>. <\/b><\/p>\n<\/div>\n[ad_2]<\/p>\n","protected":false},"excerpt":{"rendered":"
[ad_1] Second Test of Support at 20-Day Line Following a swing low of $2.99 from late-January, natural gas reclaimed its 20-Day MA on February 13. Shortly thereafter, the advance accelerated and subsequently encountered resistance around the top trendline of a large rising parallel trend channel. That led to a decline and an eventual higher swing low at $3.74. Support around the 20-Day MA and the 50-Day MA (orange) were successfully tested around the swing low as it was followed by a bullish key reversal day. The current decline is testing support around the 20-Day line for the first time it was tested in mid-February. Two Lines Show Dynamic Trend Support Initial dynamic trend support for the current bearish pullback is around the 20-Day MA and internal uptrend line. If support is maintained around those lines, then the structure of the uptrend from $2.99 remains intact. But a decisive drop below both lines will indicate the potential for a deeper retracement. But further signs of weakening would be needed to further confirm the breakdown. There is always the possibility of a false breakdown that quickly reclaims the trend support lines. The 38.2% Fibonacci retracement level at $4.17 failed to show support on the way down today. This opens the possibility of an eventual test of support around the 50% retracement level at $3.95. Of course, the 20-Day line and trendline would be broken before then. Strong Resistance at Top Channel Line Resistance has been encountered around the top line of a rising channel multiple times since the December interim swing high. On Monday, a bullish breakout of the channel led to a new trend high of $4.90 and then a failure of the breakout given the quick bearish reversal and subsequent downside continuation. Therefore, it is possible that a bearish correction could test lower support levels, below the trendline, before it is done. For a look at all of today\u2019s economic events, check out our\u00a0economic calendar. [ad_2]<\/p>\n","protected":false},"author":1,"featured_media":38544,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_uf_show_specific_survey":0,"_uf_disable_surveys":false,"footnotes":""},"categories":[45],"tags":[],"class_list":["post-38543","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-financas"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/tiproject.online\/index.php\/wp-json\/wp\/v2\/posts\/38543","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/tiproject.online\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/tiproject.online\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/tiproject.online\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/tiproject.online\/index.php\/wp-json\/wp\/v2\/comments?post=38543"}],"version-history":[{"count":0,"href":"https:\/\/tiproject.online\/index.php\/wp-json\/wp\/v2\/posts\/38543\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/tiproject.online\/index.php\/wp-json\/wp\/v2\/media\/38544"}],"wp:attachment":[{"href":"https:\/\/tiproject.online\/index.php\/wp-json\/wp\/v2\/media?parent=38543"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/tiproject.online\/index.php\/wp-json\/wp\/v2\/categories?post=38543"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/tiproject.online\/index.php\/wp-json\/wp\/v2\/tags?post=38543"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}