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Natural gas reached a higher low at $1.605 per MMBtu on July 20. The move from $1.924 on July 7 ran out of steam on the downside. The energy commodity did not test the double bottom formation at $1.517 from June 25 and 26.
On Friday, July 24, the price was hovering around the $1.80 level. The most recent high was at $1.818. Short-term technical support and resistance are at the most recent low and high. The odds favor a continuation of the upward trajectory of the natural gas futures market over the coming sessions.