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Natural Gas Price Prediction – Prices Rise Following Inventory Report

From fxempire.com

Natural gas prices consolidated on Thursday, forming an inside day which is a sign of indecision. This movement followed an inline report from the Department of energy which showed that natural gas inventories rose by 20 Bcf. According to the National Oceanic Atmospheric Administration, the weather is expected to become cooler than normal for most mid-west for the next 6-10 and 8-14 days. Technical analysis: Natural gas prices moved sideways, forming an inside day as the high was lower than the prior days high and the low was higher than the prior days low. Prices continue to create a bear flag continuation pattern. ... (full story)

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  • Category: Technical Analysis