Natural Gas closed higher due to short covering on Tuesday as it consolidated some of this summer's decline. The high-range close sets the stage for a steady to higher opening on Wednesday. Stochastics and the RSI remain neutral to bearish signalling that sideways to lower prices are possible near-term. If it extends the decline off July's high, the October 2010 low on the monthly continuation chart crossing is the next downside target. Closes above the 20-day moving average crossing are needed to confirm that a short-term low has been posted.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
