History says Buy.
This energy commodity was the first to yack.
The King is dead, long live the new King.
All the bearish news is in the price.
A historically volatile market — watch out.
Last Monday, when all hell was breaking loose in markets around the world and crude oil plunged to the lowest level in over six and a half years at $37.75 per barrel, natural gas really tried to follow. The price got down to $2.641 per mmbtu and no one would have been surprised if it traded below support on the weekly chart at $2.4430, the April 2015 continuous contract lows. Support on the active month NYMEX October futures contract at $2.6380 even held, and the energy commodity stayed within the trading range. By Friday, as oil recovered in violent fashion to close a volatile week almost 20% higher than the lows on Monday, natural gas quietly closed at $2.724 per mmbtu.
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