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    Baxia Markets
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    July 05, 2021

    Natural Gas continues uptrend that started April 2021

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    Natural Gas made 14.12% in five trading sessions to reach its highest level since January 2019. The price fell 2.04% shortly after, but the uptrend continues.

    Fundamental factors are influencing the price of the commodity. From a technical point of view, the pair should find a substantial pullback in the short term as the relative strength index is overbought at 74%. We have seen the RSI stay over 70% for a few sessions in the past and then come out of the overbought status.

     

    Natural Gas July 2nd 2021

    The Bollinger bands are wide, and this will bring higher volatility to the pair; however, the price trades closer to the upper band, suggesting that it is relatively high. The pair should find a pullback soon, but the demand for the commodity is high, and this could keep the price increased for the medium term.

     

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