Today’s Chart of the Day was shared on Twitter by Mike Zaccardi (@MikeZaccardi). It’s a daily candlestick chart of Natural Gas Futures over the past 12-months. Natural Gas fell over 50% from the peak in November 2018 to the low on August 5th. Prices have quietly rebounded 22% off the low in just one month. Today, Natural Gas closed at a 3-month high of $2.499. Legendary investor Jack Bogle once said: “Reversion to the mean is the iron rule of the financial markets.” Natural Gas is still in a nasty downtrend; however, it seems to be in the process of reverting to the mean, and mean reversion moves can be powerful. It’s currently trading above its 50-day moving average (in red) but is still about 9.50% below its 200-day moving average (not shown). We’ll be watching this chart closely to see if Natural Gas can continue to recover even after the impressive rally that it has had over the past month.