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Bullish Breakout: Natural Gas Strengthens Amidst Technical Signals

From fxempire.com

{video} Natural gas triggers a bullish breakout of the inside week from last week. It is also back above the 34-Day EMA and will close above it on a daily basis. Each indication is a sign that natural gas is strengthening. Also, notice that the relative strength index (RSI) has formed an ascending triangle pattern with a potential breakout on deck to happen soon. {chart} The next higher pivot of significance is at the swing high of 2.53 from April 28, which is also a monthly high. A daily close above that high will trigger a continuation of the developing uptrend. Subsequently, the next higher key resistance zone is ... (full story)

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  • Category: Technical Analysis