The short term trend is up in March natural gas

January 17, 2017 5:54AM CST

A rejection of the former resistance will neutralize the market, as March natural gas with another close above 3.410 .  We may see sideways movement if this happens.  To start another leg down a close in the 3.250 area is needed.   Technicals still favor the Bull camp, however, caution is recommended adding to long positions.   Momentum oscillators are at mid level and trending higher.

Above-average temperatures in the coming week are limiting gains, but a weak Dollar is contributing to the strength in the natural gas market over the short term.   Cautious bullish plays are advised, watch out for falling temps early next week and a larger than anticipated draw in storage later this week start another run for the 3.500 -3.600 range.

Natural Gas Daily

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