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Natural Gas: A Mega Move is Brewing
United States Natural Gas Fund LP
Natural Gas: A Mega Move is Brewing
By Trading-Capital
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Jun 9
9
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Jun 9
Natural Gas has been a very volatile asset in recent sessions.
The price action in the 4 hour chart has triggered a bullish breakout.
The next bullish inverse head and shoulders pattern on the daily chart is starting to take shape. This pattern has not yet triggered.
If we see a breakout of this pattern there is about $1.50 of upside from the neckline.
Resource stocks are still holding up very well, granted so is the market.
A very similar structure is playing out on the weekly chart, regarding the 50 Weekly MA
If we see price trade in congruency we should see more upside this week and then potentially we may see some sellers the folling week
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BOIL
Chart Patterns
CPK
EQT
KOLD
LNG
Natural Gas
Trend Analysis
UNG
Wave Analysis
XLE
Trading-Capital
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