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Technical Analysis Natural Gas for 11/4/15

By:
David Becker
Published: Nov 4, 2015, 04:19 UTC

Natural gas prices edged higher but remain depressed as warmer thannormal temperatures are forecasted to cover the entire United States according to the

Technical Analysis Natural Gas for 11/4/15

Natural gas prices edged higher but remain depressed as warmer thannormal temperatures are forecasted to cover the entire United States according to the Nation Oceanic Atmospheric Administration over the next 8-14 days.

Prices are hovering near support near the October lows at 2.19.  Resistance is the 20-day moving average at 2.54.  Momentum remains negative with the MACD printing in the red with a downward sloping trajectory.  The only caveat is that the RSI (relative strength index) is printing a reading of 25, which is well below the oversold trigger level of 30 and could foreshadow a correction.

Technical Analysis Natural Gas for 11/4/15
Technical Analysis Natural Gas for 11/4/15

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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