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Natural Gas Fails To Retest October Highs At 3869, Trend Positive

Published 11/26/2013, 05:40 AM
Updated 05/14/2017, 06:45 AM

Natural Gas overbought & unable to retest October highs at 3869. Below 3805 adds pressure & could target support at 3780. Any longs need stops below 3755 for a test of support at 3737/32 & an excellent buying opportunity with stops below the 200 day moving average at 3725.

Immediate resistance at 3850/70 should hold a move higher. However a break above 3883/86 keeps the bulls in control of this market & can target 9364, possibly 3983.
Natural Gas
Weekly outlook: Positive above resistance at 3850/70 & can target 3983/86 then 4040. Failure to beat 3850/70 meets support at 3740/20 then 3690.

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