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Since the start of this week, movements in natural gas futures indicate renewed strength among bulls since the recent low tested last Friday at $3.384.
As I write this piece, natural gas futures hit a high at $3.789, and a low at $3.639, which indicates that bulls could be gaining momentum after a massive bloodbath last week.
The struggle between natural gas bears and bulls has turned tough amid growing expectations for changing weather patterns from Jan. 26.
The commodity tested the lows of Jun. 2021 last Friday and maintained further movement in the same manner in Jan. 2023, which ensures a breakout move above $4.5 soon amid increasing wild price swings.
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