Sunday, August 12, 2007

Natural Gas Futures (NG #F) Analysis for 08.12.2007

Monthly chart shows price of natural gas to be stuck in a huge trading range.

The weekly chart shows a double bottom with early buyers stepping back in.

The daily chart shows 5 waves down into $5.85 level. The double bottom indicates support at that level, with renewed buying evident on Thursday and Friday of last week. Look for continued upside, with initial tgt to be test of the high at the $8 range.

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