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Recovery Rally in Natural Gas


Recovery Rally in Natural Gas
By Mike Paulenoff, www.MPTrader.com

My near-term technical work in the US Natural Gas ETF (AMEX: UNG) argues strongly that Monday's low at 34.68 followed by Tuesday's successful retest --followed by today's strength -- are indicative of a meaningful upturn for at least a recovery rally into the 38.00-38.40 zone. Only a hurdle of 39.00/20 will argue that a very significant low has been established in the UNG.

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