The Prudent Ox Economics and Financial Blog

Common-sense thoughts on the US and global economies, gold, silver, commodities, interest rates, the Federal Reserve, foreign currencies, and government policy decisions that affect the markets.

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Location: Denver, Colorado, United States

Monday, May 23, 2011

Natural Gas Breakout?

I've been watching the NatGas market for the past several months, anticipating when it would break out of it's trading range from $4-4.50/mcf. Based on the past two days price action, it may be ready to make that move.

It went up almost 13 cents/mcf on Friday; and is up 9.5 cents today at 11:45AM Mountain time, while crude oil has gone down $2.56/barrel. This could be yet another head fake, but NatGas is definitely overdue to break out of its extended dormant state.

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