Thursday, May 07, 2009

Natgas Breaks out

Natural gas has broken out of a strong downtrend line. The prices surged yesterday closing above 50 DMA on NG continuous contract for the first time after it fell from its peak of 13.69.

Although US is swiming in Natgas with oversupply, the prices are now breaking out for the first time. This market is now clearly a buy on correction market.

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