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From : Commodities Daily Hotline: 24 November 2014
Chart of the day: 'Bull trap' by Natural Gas

 

The Natural Gas instrument has registered a 5% loss for Friday's session.  The chart shows that the price had plotted a new recovery high initially, at 4.689.  Unable to maintain gains, the item ended the session sharply lower; and with a failed break over the earlier November ceiling (4.633).  Unless a jump back over Friday's high occurs, there is a risk of a further 'bull trap' retracement, potentially towards the last reaction low at 4.044.

 






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