Natural Gas Faces Strong Sell-Off Amid Oil CrashNatural Gas Faces Strong Sell-Off Amid Oil Crash
Natural Gas (NG) has once again tested the 4.2 resistance zone, encountering a strong sell-off as sellers positioned themselves for better selling opportunities.
So far, NG has broken below another key support level, increasing the likelihood of further downside movement. This decline aligns with the sharp oil crash, which was fueled by OPEC+ comments on increasing oil production.
While the bearish wave in NG is still unfolding, its pace is slower than usual. However, the overall trend suggests that the price is moving in the right direction for further declines.
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