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

Natural Gas Forecast August 15, 2012, Technical Analysis

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About: FX Empire Analyst - Christopher Lewis

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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