Increasingly, nearby natural gas futures appear to be
consolidating their April-July gains (1.902 to 3.277) between 2.60/70 on
the low side and 3.00/20 on the high side. My work considers this to
be a sideways digestion area in preparation for the next recovery upleg
that projects to 3.40/50 and then to 3.90-4.00.
That said, natural gas must hurdle and sustain above its most recent rally peak at 3.070 in order to unleash the buying power to propel prices to the above-mentioned targets.
That said, natural gas must hurdle and sustain above its most recent rally peak at 3.070 in order to unleash the buying power to propel prices to the above-mentioned targets.
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