economic calendar<\/a>. <\/b><\/p>\n<\/div>\n[ad_2]<\/p>\n","protected":false},"excerpt":{"rendered":"
[ad_1] Prepped for Bearish Continuation The high for the day at $3.45 essentially tested prior support as resistance as a minor interim higher swing low was at $3.42. Notice that a falling trendline has been added to the chart from the recent peak in March. Along with the 61.8% retracement level, it may provide an additional guide as it previously represented resistance. It is interesting to note that on Monday the trendline and 61.8% level are converged. In other words, they mark the same price area on Monday. When two or more indicators mark a similar price area, it has the potential to do two things. One, it can act like a magnet pulling price towards it. And second, it marks a potentially more significant price level. Therefore, it increases the chance for a bullish reversal and the potential selling pressure that could be unleashed if it doesn\u2019t hold as support. Weekly Bearish Reversal Confirms Selling Pressure A bearish reversal on the weekly chart triggered on Thursday, with the breakdown confirming today with a likely weekly closing price below $3.42. That is another piece of evidence for the bearish side of the outlook. It increases the chance that natural gas will reach the 61.8% level, and that it could go lower. The 78.6% retracement is the next lower price level at $3.07. Above $3.45 Could See Higher Bounce On the upside, a decisive rally above today\u2019s high of $3.45 would show strength and indicate that today\u2019s low may have completed the retracement. Or it is just a bounce before a continuation lower. Resistance from Thursday is at $3.50 and it is confirmed by a potential AVWAP resistance level calculated from the March peak. 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":45911,"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-45910","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\/45910","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=45910"}],"version-history":[{"count":0,"href":"https:\/\/tiproject.online\/index.php\/wp-json\/wp\/v2\/posts\/45910\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/tiproject.online\/index.php\/wp-json\/wp\/v2\/media\/45911"}],"wp:attachment":[{"href":"https:\/\/tiproject.online\/index.php\/wp-json\/wp\/v2\/media?parent=45910"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/tiproject.online\/index.php\/wp-json\/wp\/v2\/categories?post=45910"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/tiproject.online\/index.php\/wp-json\/wp\/v2\/tags?post=45910"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}