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.
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.
Labels: commodities, crude oil, natural gas
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