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Natural Gas Price Forecast: Bullish Momentum Continues but Overdue for a Correction
video Natural gas blasted through potential resistance at the 200-Day MA on Thursday to hit a new trend high of 2.575. Resistance then kicked in leading to an intraday pullback. That high completed a rising ABCD pattern where the CD leg was 200% of the advance in the AB leg of the pattern. The 200-Day MA is at 2.46 and natural gas continues to trade above that price level at the time of this writing. A daily close above the 200-Day line indicates that the uptrend may have more to go. chart Certainly, today’s bullish price action is a sign of strength as natural gas recently busted through three price zones that ... (full story)