U.S Natural Gas Is Bearish, Support At $3.598 Levels
CommodityOnline | Jul 15, 2013 06:38AM ET
Natural Gas closed higher on Friday and the midrange close sets the stage for a steady opening on Monday. Stochastics and the RSI are turning neutral hinting that sideways to lower prices are possible near term. Closes above Wednesday's high crossing are needed to confirm that a short term low has been posted. If it renewed the decline off May's high, the 87% retracement level of this year's rally crossing is the next downside target.
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