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Natgas Jumps again!!!

Natural Gas prices very sharply up after retracing the previous rise. In the last post I had highlighted that Natgas is a buy on any weakness and this dip is an excellent opportunity to be on the long side of Natgas.

See these graphs -



Current prices have a strong support at swing low of $3.38 and pivot support is at $3.10. Natgas is expected to rise to $5 from current price levels.

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.