Wow -- Natural Gas Has Two Up Days

 |  Includes: GAZ, UNG
by: Bespoke Investment Group

Natural gas has become synonymous with declines over the last year, enough so that it's surprising when the commodity has an up day. And two up days in a row? No, it couldn't happen, could it?

Something must not be right, because natural gas is up 22% over the last two days, gaining 18% yesterday and another 4% today! As shown below, the gains have propelled the commodity above its 50-day moving average. Could it finally be ready to break out of its downtrend? Don't give it the benefit of the doubt. (Click to enlarge)

Click to enlarge