Technical Analysis Natural Gas for 11/11/15
Natural gas prices remain steady as cold weather is forecasted to cover most of the west coast over the next 8-14 days according to NOAA. The mid-west and east coast continues to show a forecast of warmer than normal weather. Support on natural gas is seen near the October lows
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Natural gas prices remain steady as cold weather is forecasted to cover most of the west coast over the next 8-14 days according to NOAA. The mid-west and east coast continues to show a forecast of warmer than normal weather.
Support on natural gas is seen near the October lows at 2.19, while resistance is seen at 2.40 and then the 20-day moving average at 2.44. Momentum has turned positive with the MACD (moving average convergence divergence) index generating a buy signal. This occurs as the spread (the 12-day moving average minus the 26-day moving average) crosses above the 9-day moving average of the spread.
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