Natural Gas Forecast August 15, 2012, Technical Analysis
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Natural gas markets had a positive session on Tuesday, bouncing off of the $2.70 level which was an area that we thought could be minor support. This bounce however, should be a perfect place from which to sell this market place and we think that the downtrend continues.
Once we get below the $2.70 level, this should begin a new phase of selling in this market and exaggerated weakness yet again. In order to get bullish of natural gas again, we would have to see $3.30 broken out and above on the daily close. In the meantime, we are simply looking for weakness to sell.
Natural Gas Forecast August 15, 2012, Technical Analysis
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Christopher is a part of the FXEmpire.com analysis team. He writes Forex and Commodities technical analyses on daily and weekly basis. Christopher writes his analyses in a professional and yet simple to understand manner. His analyses are available in both text and videos.
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