Commodities
Natural Gas Breakout Hits Resistance at $2.93
Natural gas prices have broken out of their consolidation range, but still face resistance at $2.93.
The breakout above $2.89 is a bullish reversal signal, which could lead to higher prices targeting $2.98 and the $3.25 zone.
However, before this can happen, natural gas needs to post a daily close above $2.89.
If that happens, the 50-day moving average may continue to define dynamic resistance or be reclaimed, opening the way for higher potential targets.