Natural Gas Becomes Summer’s Hottest Commodity – Price Above $4 Again

Natural gas markets have gapped higher to kick off the trading session on Wednesday, and then shot straight up in the air. By doing so, we have cleared the most recent highs and now look likely to go towards the $4.40 level, an area that I had been talking about previously. When you look at the chart you can make an argument for a bullish flag, not only here but below on the way up to this level. Beyond that, we also have the previous consolidation area that measured for a move to the $4.40 level, and therefore I think it all kind of lines up quite nicely.

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Source: FX Empire