The cold weather snap across the United States has aided the surge in natural gas prices.
But I didn’t need the cold weather to put a buy on natural gas earlier this month. At that time, I highlighted the bullish base developing in Natural Gas, and we had an MFU-4 “daily” target of #3.25.
Natural gas is approaching this price target, and given the strong money flow accumulation, that target has a strong chance of being exceeded.
Hitting this target (and even exceeding it) could give way to a pause before another advance higher. However, turning to the “weekly” time period, I can calculate an MFU-3 price target to the $3.70 level. This becomes my next objective on a “weekly” close above $3.25.
Natural Gas “weekly” Chart
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