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The charts, graphs and comments in my Trading Blog represent my technical analysis and observations of a variety of world markets...
* Major World Market Indices * Futures Markets * U.S. Sectors and ETFs * Commodities * U.S. Bonds * Forex

N.B.
* The content in my articles is time-sensitive. Each one shows the date and time (New York ET) that I publish them. By the time you read them, market conditions may be quite different than that which is described in my posts, and upon which my analyses are based at that time.
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Dots

* If the dots don't connect, gather more dots until they do...or, just follow the $$$...

Fall Cabin

Fall Cabin

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Sunday, August 28, 2022

Natural Gas Futures Index Is Approaching Escape Velocity

The Natural Gas Futures Index (NG) has had difficulty holding above 5.500 since May 2000, as shown on the following monthly chart.

However, momentum (shown in histogram format for clarity) has been building steadily since October 2020, which eventually propelled the price above major resistance at 3.500 in June 2021, and finally above 5.500 in March 2022.

Momentum has not yet reached its historical extreme overbought level yet, so we may see a retest of NG's all-time high of 15.780 (set in December 2005) sometime in the near future, perhaps by the end of this year.

Watch for such an extreme spike to form on the MOM indicator to signal a potential reversal point in this latest rally...should NG continue upward, unhindered by any near-term resistance.