Natural Gas - Daily technical Forecast

By IBTimes Staff Reporter | May 13 2010 3:20 AM

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Natural Gas closed lower on Tuesday as it consolidated some of Monday's rally but remains above the 20-day moving average crossing. The low-range close sets the stage for a steady to lower opening on Wednesday. Stochastics and the RSI have turned bullish signalling that sideways to higher prices are possible near-term. If it extends Monday's rally, the 25% retracement level of the October-April decline crossing is the next upside target.

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