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Further signs of strength could lead to continued bullish behavior within the next pullback or consolidation. The recent advance has continued to show signs of strength as it advanced, with the more significant being the reclaim of both the 20-Day and 50-Day MAs.<\/p>\n
It is interesting to note that earlier in today\u2019s trading session natural gas began the trading session by gapping down and then falling to successfully test support around the 50-Day MA with the day\u2019s low of $3.55. That initial decline provided bearish signals on a drop below the lows of each of the past two days. The market clearly recognized the 50-Day MA price area as the buyers clearly took back control.<\/p>\n
There are also a couple signs of strength to be aware of on the weekly chart (not shown). The three-week high at $3.83 was exceeded today, as well as the 200-Week MA, which is at $3.91. Today\u2019s closing price should be above each of those price levels and will therefore confirm the strength of the breakouts.<\/p>\n
Despite strong bullish indications a pullback could come following a test of the 78.6% retracement, as noted above. There is also a former weekly high at $4.05. It provides a little more attention to that price area. Even if the $4.06 price level is exceeded to the upside the current advance is getting extended.<\/p>\n
As of today\u2019s high, natural gas was up by $1.02 or 34.2% from the recent $2.99 swing low. Certainly, it can go higher, but today\u2019s spike is not happening at the beginning of the rally and therefore there might be early signs of exhaustion that has not yet been fully registered by the market.<\/p>\n<\/div>\n
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[ad_1] Strong Advance Indicated Further signs of strength could lead to continued bullish behavior within the next pullback or consolidation. The recent advance has continued to show signs of strength as it advanced, with the more significant being the reclaim of both the 20-Day and 50-Day MAs. It is interesting to note that earlier in today\u2019s trading session natural gas began the trading session by gapping down and then falling to successfully test support around the 50-Day MA with the day\u2019s low of $3.55. That initial decline provided bearish signals on a drop below the lows of each of the past two days. The market clearly recognized the 50-Day MA price area as the buyers clearly took back control. Weekly Breakout There are also a couple signs of strength to be aware of on the weekly chart (not shown). The three-week high at $3.83 was exceeded today, as well as the 200-Week MA, which is at $3.91. Today\u2019s closing price should be above each of those price levels and will therefore confirm the strength of the breakouts. Given Strength, Pullback Maybe Short Despite strong bullish indications a pullback could come following a test of the 78.6% retracement, as noted above. There is also a former weekly high at $4.05. It provides a little more attention to that price area. Even if the $4.06 price level is exceeded to the upside the current advance is getting extended. As of today\u2019s high, natural gas was up by $1.02 or 34.2% from the recent $2.99 swing low. Certainly, it can go higher, but today\u2019s spike is not happening at the beginning of the rally and therefore there might be early signs of exhaustion that has not yet been fully registered by the market. [ad_2]<\/p>\n","protected":false},"author":1,"featured_media":35430,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_uf_show_specific_survey":0,"_uf_disable_surveys":false,"footnotes":""},"categories":[45],"tags":[],"class_list":["post-35429","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-financas"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/tiproject.online\/index.php\/wp-json\/wp\/v2\/posts\/35429","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/tiproject.online\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/tiproject.online\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/tiproject.online\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/tiproject.online\/index.php\/wp-json\/wp\/v2\/comments?post=35429"}],"version-history":[{"count":0,"href":"https:\/\/tiproject.online\/index.php\/wp-json\/wp\/v2\/posts\/35429\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/tiproject.online\/index.php\/wp-json\/wp\/v2\/media\/35430"}],"wp:attachment":[{"href":"https:\/\/tiproject.online\/index.php\/wp-json\/wp\/v2\/media?parent=35429"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/tiproject.online\/index.php\/wp-json\/wp\/v2\/categories?post=35429"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/tiproject.online\/index.php\/wp-json\/wp\/v2\/tags?post=35429"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}