Natural Gas Forecast August 21, 2012, Technical Analysis
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The natural gas markets fell originally during the Monday session, but bounced to get off of the $2.70 level to show it as support. This has been the case lately, and the bounce would not have been much of a surprise. We still maintain that a daily close below the $2.70 level is a great sell signal, but we have yet to receive it.
We still think that selling rallies will be the way to go, and the downtrend is most decidedly still active. Looking forward, we will sell this market on any type of weak candle, and of course a break down below the aforementioned level. We still think that the $2.00 handle is where this market will head eventually.
Natural Gas Forecast August 21, 2012, Technical Analysis
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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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