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Almost a year ago the Power of the Pattern alerted Members and then shared with blog viewers that a bullish inverse head & shoulders pattern was taking place in Natural Gas (see post here) Over the past year Natural Gas has rallied 114%, see upper left inset chart. The rally now has NG futures and the NG ETF (UNG) up against resistance in the form of falling and a Fibonacci retracement level.
This doesn’t mean the bull market is over with at all….it does reflect a price point investors might take some profits and at least, cause prices to take a breather!
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