Natural Gas closed higher on Wednesday as it consolidated some of this summer's decline. 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 extends the decline off July's high, the October 2010 low on the monthly continuation chart crossing is the next downside target.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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