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Natural Gas Analysis for May 4, 2021

From fxdailyreport.com

Natural gas is still on a tear, making its way up to the longer-term range resistance around $3.100. Technical indicators are giving mixed signals on whether the climb could carry on or not. The 100 SMA is above the 200 SMA to confirm that the path of least resistance is to the upside or that more gains are in the cards. Price is also trading above both moving averages, as additional indication of bullish momentum. However, the gap between the indicators is narrowing to reflect weakening bullish momentum and a potential bearish crossover later on. Stochastic is reflecting overbought conditions or exhaustion among ... (full story)

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