Natural Gas Forecast August 20, 2012, Technical Analysis

posted
By FX Empire Analyst - Christopher Lewis
Print
Font Size
T
T
T
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

Find a Broker
Continue to FX Empire Network