Natural gas prices continue stabilizing around the February low. A bullish engulfing on the daily chart shows early signs of a turn higher. Watch the 4-hour chart for follow-through.
Natural gas prices are stabilizing above February lows, with downside momentum fading. The breakout above a Falling Wedge has struggled to materialize, undermining its bullish implications.
In a further sign of fading downside momentum, natural gas prices reversed losses initially accumulated last week. Is the heating commodity readying for a turn higher this week?
Riverfront believes the Fed will be resolute in confronting inflation and thus believe the market’s opinion change in the path of interest rates is extreme.
Natural gas prices appear to have reinforced support following fading downside momentum. On the 4-hour chart, the heating commodity is trying to confirm a breakout above a bullish Falling Wedge.