Natural Gas Forecast August 15, 2012, Technical Analysis

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By FX Empire Analyst - Christopher Lewis
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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

Natural Gas Forecast August 15, 2012, Technical Analysis

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