Natural Gas Forecast August 30, 2012, Technical Analysis

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The natural gas markets had a positive session during the Wednesday trading day to pop back up to the $2.68 level. After the reason break down below the 2.70 cents level, it makes sense that we could have a retest of that area for resistance, but we see absolutely no reason to think why it won’t hold. The market is in a vicious downtrend over the last couple of years, and nothing has changed fundamentally that makes us believe that the natural gas markets are about to turn around. With this being said, we are looking for some type of resistive candle near the $2.70 level in order to sell more of this contract. As for buying, we simply won’t do it.

Natural Gas Forecast August 30, 2012, Technical Analysis

Natural Gas Forecast August 30, 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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