Technical Analysis: Natural Gas Eyes Bullish Breakout Past Key 40-Day SMA Momentum

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Source: Dukascopy Bank SA
Daily chart for GAS.CMD/USD shows a strong bullish reversal underway, characterized by a series of higher lows off the April bottom and a clean breakout above the flattening 40-day SMA, which now serves as key dynamic support. Momentum is firmly in the buyers' favor, supported by a sharply rising MACD line and expanding positive histogram bars.



However, price is currently testing a critical structural resistance zone at 3.1000; a decisive daily close above this level clears the runway for a continuation toward 3.4500, whereas a failure to break through on the first attempt could trigger a healthy, near-term pullback to retest the 40 SMA before the next leg up.

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