Natural Gas Absorbs and Ignores Another Inventory Build

Nearby Natural Gas has performed well in the aftermath of yesterday’s initial knee-jerk downside reaction to the latest inventory build.

In fact, it has climbed from a spike low at 4.586 yesterday morning, to a high this morning at 4.726, which extends the series of higher-lows and higher-highs off of the May 15 low at 4.289, and continues the upside march towards a confrontation with Feb-June resistance (and upside-breakout plateau) at 4.800-4.850.