Friday
Oct292010
Wow -- Natural Gas Has Two Up Days
Friday, October 29, 2010 at 03:03PM Natural gas has become synonymous with declines over the last year, enough so that it's surprising when the commodity has an up day. And two up days in a row? No, it couldn't happen, could it?
Something must not be right, because natural gas is up 22% over the last two days, gaining 18% yesterday and another 4% today! As shown below, the gains have propelled the commodity above its 50-day moving average. Could it finally be ready to break out of its downtrend? Don't give it the benefit of the doubt.
Reader Comments (4)
Again, ignored the roll...
the reason for the large gap is the roll from the November contract to the December contract.
the actual gains are much lower for the December contract.
Would have expected more from BIG. This is the kind of amateur analysis we expect from CNBC, not a professional research group.
Check your contracts. Make sure you roll your charts properly