Natural Gas - Daily technical Forecast

By International Business Times,  May 20, 2010, 04:51:51 AM EDT

Natural Gas closed lower on Wednesday and below the 20-day moving average crossing tempering the near-term friendly outlook. The low-range close sets the stage for a steady to lower opening on Thursday. Stochastics and the RSI are overbought and are turning neutral to bearish signalling that sideways to lower prices are possible near-term. If it renews this month's rally, the 38% retracement level of the October-April decline crossing is the next upside target.




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Commodities

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