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Natural Gas Surges, Confirms Breakout, but Can It Sustain Momentum?
video Natural gas rockets higher with a large gap at the open and subsequent higher prices. The advance follows a bullish hammer candlestick pattern yesterday that marked the bottom of the recent correction. Today’s rally easily took natural gas back above the 2.87 swing high and it is on track to close above it thereby confirming the breakout. In addition, it is back above the internal downtrend line marking dynamic resistance of the recent retracement, an additional sign of strength. chart The high of 2.95 today completed the first rising ABCD pattern target at 2.94 (D) where the CD leg of the advance matches ... (full story)