Natural Gas Forecast August 20, 2012, Technical Analysis

Get Forex buy/sell signals directly to your email and by SMS.
To learn more click here

Natural gas markets barely moved during the Friday session as the $2.70 level continues to hold as support. There simply wasn’t enough momentum in the market to break in either direction, so Friday was pretty much a scratch for both the buyers and sellers.

The good thing about this market though is that he gives us a clear area from which to sell. If we can get a daily close below the $2.70 level we will certainly be selling aggressively at that point. The, we are already short of this market but want to add to our position as we think the trend will continue to grind much lower. Our initial target after the breakdown of $2.70 is the $2.25 level. As for buying this market, we see as fully no reason to do so.

Natural Gas Forecast August 20, 2012, Technical Analysis

Natural Gas Forecast August 20, 2012, Technical Analysis

Want to read more articles like this one?
Enter your e-mail address and read FX Empire content directly from your inbox.
We value your privacy. Your e-mail address will not be shared.
About: FX Empire Analyst - Christopher Lewis

Christopher is a part of the 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.

  View all of FX Empire Analyst - Christopher Lewis's Articles    
Share Your Thoughts: Post a Comment

Your email address will not be published.



Your nat gas graph is wrong… nat gas went down to $1.90 in april

FX Empire Analyst - Christopher Lewis

You are looking at spot prices, and therefore an invalid month. This is a futures chart that I use.