Chart of the Day - Monday, February 27th, 2023

Today’s Chart of the Day was shared by Bespoke (@bespokeinvest). Natural Gas has been falling like a knife over the past six months, dropping as much as 80% from its August highs. However Bespoke points out that it has rebounded sharply over the past four sessions. Natural Gas futures are up more than 38% from Wednesday's intraday low thru today's close (31% on a closing basis). Natural Gas has earned the nickname 'the widow maker' among traders due to its violent price swings. It's still in a nasty downtrend, but this sharp reversal suggests that a short-term low has been established, and we could see prices continue to mean revert toward the 50-day moving average in the coming weeks.