Natural Gas Corner Update - Bullish Technical Signals

 Natural gas prices have rallied sharply higher from new 2014 lows set just last week.

This rally came on very high volume which is indicative of a market low being in place.

Over the past 8 sessions, the spot December 14 contract has gained .837 or 23% from the 3.620 low posted Tuesday of last week up to the 4.457 high reached on Thursday, Nov. 6th.

Prior to yesterday’s bullish breakout, this trend line had held as resistance on four previous breakout attempts over the past three months.

Yesterday’s breakout was an important technical barrier to clear which turns the longer term market trend higher likely into the early months of 2015.

Former resistance between 4.250-4.300 now becomes support in upcoming trade.