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Nat Gas: Could Target Support At 4900/4890

Published 01/30/2014, 02:36 AM
Updated 07/09/2023, 06:31 AM
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Nat Gas Weekly Chart

Natural Gas tested immediate support at 4860/30 and bottomed exactly here. The March contract rocketed higher to 5486 and even though we are overbought it is very unwise to try to pick a top in this highly volatile bull run. A break above 5510 could trigger further buying and target 5680, possibly 5700/5725. Above here we can reach as far as 5850/70.

Immediate support is 5290/85 but below here targets 5170/20. This area could hold the downside but longs need stops below 5065. If we continue lower we could target support at 4900/4890.

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