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Technical Analysis Natural Gas for 8/26/15

By:
David Becker
Published: Aug 25, 2016, 04:23 UTC

Natural Gas prices move higher on Tuesday as warmer than expected weather in most of the United States is likely to boost energy demand.  Commodity prices

Technical Analysis Natural Gas for August 25, 2016

Natural Gas prices move higher on Tuesday as warmer than expected weather in most of the United States is likely to boost energy demand.  Commodity prices in general received a reprieve from the heavy selling seen over the past month.  Today’s surprise rate cut by the PBOC failed to really buoy natural gas prices.

Natural gas bounced off of trend line support seen near 2.64, and continue to move higher during the trading session generating a higher high for the day. The first level of resistance is seen near the 20-day moving average near 2.77.  The RSI moved higher along with price action reflecting accelerating positive momentum while printing at 44, which is in the middle of the neutral range.

About the Author

David Becker focuses his attention on various consulting and portfolio management activities at Fortuity LLC, where he currently provides oversight for a multimillion-dollar portfolio consisting of commodities, debt, equities, real estate, and more.

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