Natural Gas closed slightly higher due to short covering on Wednesday as it extends the trading range of the past two weeks. The mid-range close sets the stage for a steady to lower opening on Thursday. Stochastics and the RSI are turning bullish hinting that a low might be in or is near. Closes above the 20-day moving average crossing are needed to confirm that a short-term low has been posted. If it renews this month's decline, April's low crossing is the next downside target.
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