Natural Gas Trading Forecast

Natural Gas closed lower on Friday as it consolidates some of last week's short covering rally. The mid-range close sets the stage for a steady opening on Monday. Stochastics and the RSI are bullish signalling that sideways to higher prices are possible near-term. Closes above the 20-day moving average crossing are needed to confirm that a short-term top has been posted. If it renews the decline off March's high, the 87% retracement level of March's rally crossing is the next downside target.

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