Natural Gas Forecast August 31, 2012, Technical Analysis

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By FX Empire Analyst - Christopher Lewis
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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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