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Natural Gas Prediction – Prices Consolidate Ahead of Inventory Report
Natural gas prices consolidated, forming an inside day with resistance seen near the May highs at 3.2. Support is seen near the 10-day moving average at 3.06. Short-term momentum whipsawed and moved higher as the fast stochastic generated a crossover buy signal. Medium-term momentum is flat but turning positive as the MACD (moving average convergence divergence) is poised to generate a crossover buy signal. This occurs when the MACD line (the 12-day moving average minus the 26-day moving average) crosses above the MACD signal line (the 9-day moving average of the MACD line). chart U.S. Natural gas production ... (full story)