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Natural gas ETFs broke out of a falling wedge pattern despite US gas storage sitting below its five-year average. Large storage builds were expected through late May, and prices were supported by forecasts of hotter weather in the South.
Analysts said the market appears well supplied in the intermediate term.
Technical breakouts can attract short-term buying, but large storage builds and ample production limit upside. Weather forecasts remain the main near-term driver of gas prices.
investopedia.comMay 2, 2019Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
