Natural Gas - Daily technical Forecast

By IBTimes Staff Reporter | April 14 2010 10:03 AM

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Natural Gas closed higher due to short covering on Tuesday and the high-range close sets the stage for a steady to higher opening on Wednesday. Stochastics and the RSI are turning bullish signalling that sideways to higher prices are possible near-term. Multiple closes above last Tuesday's high crossing are needed to confirm that a low has been posted. If it renews this winter's decline, weekly support crossing is the next downside target.

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