The US Energy Information Administration reported today that domestic supplies of natural gas decreased by -221 billion cubic feet for the week ended December 30 from -213 bcf in the previous week, and below analysts’ estimates of -228 billion cubic feet. NATGAS price deepens declines after the publication of today's data.
NATGAS price fell to a 12 month low after today’s EIA report and is moving towards support at $3.35 which coincides with 78.6% Fibonacci retracement of the upward move launched in June 2020. Source: xStation5
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