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Natural Gas Overbought In The Short Term, Profit Booking Likely

Published 12/20/2013, 06:43 AM
Updated 05/14/2017, 06:45 AM

Natural Gas unexpectedly tore higher through 4395/00 to reach 4475. We are overbought short term so may see profit taking down to 4435/30. If this does not hold the downside look for a buying opportunity at 4410/05. However failure here risks a slide to 4385, possibly as far as 4365 for the next buying opportunity.
Natural Gas
If we continue higher today through resistance at 4475/80, look for 4511 then 4560. Above here sees 4580 then 4594/97. Reports will be delivered throughout the holiday period.

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