Natural Gas closed higher due to short covering on Wednesday as it consolidates some of Monday's decline but remains below the 87% retracement level of the December-January rally crossing. The high-range close sets the stage for a steady to higher opening on Thursday. Stochastics and the RSI are oversold but remain neutral to bearish signalling that sideways to lower prices are possible near-term. If it extends this winter's decline, December's low crossing is the next downside target.
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