Natural gas continues its run to the upside. Tests 50% midpoint of the move since 2008

Natural gas futures continue to run to the upside. The price high today reached $7.91. That was just short of the 50% midpoint of the range since the June 2008 high at $7.93 and is the highest price since October 2008. The current price is trading at $7.86 just below the high for the day. There are some minus sellers against the 50% midpoint level.

Looking at the weekly chart, since the first week of the year, the price has moved up from $3.50 to the high price today of $7.91. That is a gain of $4.41 or 125.7%.

Crude oil futures are currently trading at $107.35. That is up from the low price last week which reached $93.05. However it remains below the spike high going back to early March near $130.50..