Volatility suggests the high may be in place
Natural gas (NG) has been extremely volatile over the past two weeks while not trending higher. The rally that started in April was mostly orderly until the last few weeks, and now that it has turned messy, that suggests we are in a big retracement. It is considered that the best case scenario at the moment is for a more horizontal movement to develop, but it will likely take some time to digest the massive gains of the past few months before any larger advance can occur at these levels.
For more details, please see the video above.
Daily graph of natural gas (GN1!)
Nat Gas Chart by TradingView
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— Written by Paul Robinson, Market Analyst
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