NATURAL GAS closed lower due to profit taking on Wednesday and the lowrange close sets the stage for a steady to lower opening on Thursday. Stochastics and the RSI remain bullish signalling that sideways to higher prices are possible nearterm. If it extends the rally off June's low, the 38% retracement level of the 20112012decline crossing is the next upside target. Closes below the 20day moving average crossing are needed to confirm that a shortterm top has been posted.
Join the Discussion