I’ve been bullish on natural gas since last July and natgas is up 29% since then (vs. -1% for the CCI index). The
chart still looks very bullish:
Source: Stockcharts.com
The price recently surged to $4, successfully breaking through the
neckline of a fairly massive bullish inverse head-and-shoulders pattern. All good.
Question: if fracking
is allowing for an unprecedented boom in natural gas supply, then why does the chart
appear so bullish? Despite the flood of supply, is it saying demand for natural
gas is outstripping supply? Or is it saying supply has been overstated?
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