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Analyzing Natural Gas: Breakout Potential and Price Targets

From fxempire.com

{video} Before its breakout above the 50-Day EMA resistance, natural gas tested it as support for three days before it broke through. The breakout day was clear and decisive, with a wide-ranging green candle and the day ending near the high of the day’s range. There were two days where natural gas closed above the 50-Day line. It hadn’t closed above the line since mid-December. This is a sign that natural gas is slowly starting to strengthen. Note how the initial test of the line as resistance at the end of April was quickly met by resistance and the day ended below the line. {chart} Today, Wednesday, natural gas has ... (full story)

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  • Category: Technical Analysis