Natural Gas Forecast August 20, 2012, Technical Analysis
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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.
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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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G-Dog
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.
