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Natural Gas Surges Out of Near-Term Base Pattern


Monday August 19th, 2013
Natural Gas Surges Out of Near-Term Base Pattern
by Mike Paulenoff www.MPTrader.com

Nearby Natural Gas is up 3.2% this morning, as it claws its way to a new recovery high off of the Aug 8 spike-low-reversal at 3.129.

Let's notice that the price structure also has clawed its way firmly above the support line of its May-Aug corrective channel, which argues strongly that Natural Gas is in route towards a test of the upper-channel line, now at 3.850.

At this juncture, only a decline that breaks and sustains beneath 3.32 will compromise the upside continuation.

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