4:33 PM · 23 February 2023

NATGAS retreats after latest EIA report

The US Energy Information Administration reported today that domestic supplies of natural gas decreased by -71 billion cubic feet for the week ended February 17 from -100 bcf in the previous week, while analysts’ epected -67 billion drop.

NATGAS price pulled back from local resistance at $2.425 which coincides with 61.8% Fibonacci retracement of the last downward wave. Source: xStation5

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