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Natural Gas Price Forecast: Testing Support Following Earlier Breakout

From fxempire.com

{video} Natural gas pulls back again to test recent support around the top trendline of a symmetrical triangle bottom consolidation pattern. Today’s low was 1.91 and the four-day low was also 1.91. Tuesday’s high of 2.09 was the highest price for natural gas since February 7 and indicates that demand may be improving overall. Characteristics of the pullback should provide clues as to what might be coming. In summary, either a deeper pullback that sees trading happening lower within the triangle pattern, or a short pause before the trend continues higher. {chart} The 20-Day MA recently crossed back above the 50-Day ... (full story)

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  • Category: Technical Analysis