Oversold nearly to death as 2012’s freakishly mild winter ended, Natural Gas futures are finally recovering some of their mojo with a 30% surge in the last month. Another leap is augured by the daily chart, which shows this vehicle in a consolidation with the potential to hit 4.214 when buyers get back in gear. Assuming the ‘C’ low at 3.609 holds, bulls would encounter key resistance at the 3.9115 p midpoint of the pattern shown. My hunch is that they’ll be on their way to D (4.214) following a two-day close above the midpoint.
