Chart of the Day

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Chart of the Day

Energy prices have been rallying as of late. For some perspective, today’s chart presents the current, long-term trend of natural gas. As today’s chart illustrates, the price of natural gas has been in a downtrend over the last two years as a result of a supply glut as well as unseasonably warm weather. Since early March, natural gas prices have spiked upwards as a result of speculation that natural gas supplies have or will begin to diminish. In the end, natural gas is currently testing resistance (red line) of its two-year downtrend channel.