Retracement completes 61.8% Fibonacci Retrecrecy Natural Gas is down 2.26 today and completed a 61.8% Fibonacci retracement at 2.28. Attempt to rally today, a drop to the 78.6% retracement zone at 2.17 looks more likely before the correction is complete. A break below today's low triggers a continuation of the decline. However, the 78.6% retracement and the potential support area of ​​the bullish line is a key area. If natural gas is to have a chance to bounce back, it should find support in this price zone. Lower targets than decrease of ABCD pattern Considering today's short-lived rally, there is now a descending ABCD pattern. Just below the short uptrend line, it hits its first target at 2.07. This is where the CD leg will match the AB leg as much as the change in price. The higher 78.6% target is 78.6% It is just below the Fibonacci retracement and further strengthens the potential support of this price area. Underlying signs of demand Although natural gas is in the correction, there are signs of underlying demand. There has been a bullish reversal on the monthly chart for April. If it closes above last month's high of 2.53, an additional sign of strength is formed. Also, natural gas recently, for the first time since December Once it rose above the 50-day EMA, then closed in two of the three days. This type of price behavior is bullish. Price behavior around the 50-day line indicates that this market has recognized the line. It has been tested as support or resistance in eight of the past nine days. Therefore, keep an eye out. Another breakout above the 50-day EMA will trigger a bullish signal. our economic calendar to get a glimpse of today's economic events.