NATURAL GAS closed higher due to short covering on Wednesday and the midrange close sets the stage for a steady opening on Thursday. Stochastics and the RSI are neutral to bullish signalling that sideways to higher prices are possible nearterm. If it renews the rally off August's low, the 38% retracement level of the 20112012decline crossing is the next upside target. Closes below the 20day moving average crossing would confirm that a shortterm top has been posted.
Copyright HY Markets All rights reserved.