Natural Gas Forecast August 31, 2012, Technical Analysis

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The natural gas markets fell originally during the Thursday session, but bounced in order to form a fairly bullish candle. We close right around the $2.75 level, which is the beginning of serious noise to the upside. Because of this, we think that resistance will step back into the marketplace and we will see a selling opportunity over the next day or two.

We are more than willing to sell resistive candles all the way up to the $3.00 level, and believe that eventually the downtrend will take over yet again. The breakdown over the last several weeks needed a bounce, and it looks like that’s what we gotten. This will allow more people to step in and sell this already beat down market.

 

Natural Gas Forecast August 31, 2012, Technical Analysis

Natural Gas Forecast August 31, 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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