Natural Gas Forecast August 17, 2012, Technical Analysis

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The natural gas markets had another bearish session on Thursday, and even get below the $2.70 level. However, we did get a pullback and close just above that level and as such didn’t get our sell signal. Regardless, it does look like this market is willing to fall given just the slightest nudge. A break of the lows from the Thursday session sets up our trade down to the $2.25 level, and possibly even lower.

We have absolutely no intention of buying the natural gas markets in the near term future, as there are simply far too much supply. The trend is most decidedly down, so it makes sense that selling is the only way to go. Eventually, we will have to approach the two dollar level where we think it will eventually give way.

 

Natural Gas Forecast August 17, 2012, Technical Analysis

Natural Gas Forecast August 17, 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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