Commodity Market News

"Natural Gas Prices Surge on Frigid Weather Forecast"

Natural gas exhibits bullish momentum, aiming for a price target of 3.04 as it signals a bullish trend continuation and surpasses the 50% retracement level at 2.94. The rally, reaching the average performance zone of past five rallies, indicates a potential completion as it approaches the resistance of the rising parallel trend channel. However, the current advancement has placed natural gas back above major moving averages, with the potential for further upside towards 3.15.