Thursday
Nov 20th
Natural Gas future - Update |
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| 20-02-2008 | |
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It seems that NYMEX Natural Gas is showing great
strength to run towards the resistance we gave on our last analysis (9.080).
Today it hit its high at 9.120 touching again the upper trend line. This
is the highest trade since February 2006. We reckon that this market
will be weaker as the March delivery will move closer to
its expiry. RSI is high and a technical downside correction is
more likely, so we speculate on a short position.
Support
8.734
Resistace 9.400
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