Natural Gas forecast for the week of October 15, 2012, Technical Analysis
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The natural gas markets had a strong week as we broke through the $3.50 level. This of course is a very strong sign, and as such it looks like we are heading towards the $4.00 level, and then on to the $4.50 level. With the winter approaching the northeastern United States, demand for natural gas should continue to pick up.
As long as we can stay above the $3.50 level, we believe that the bullishness should continue. However, there will come a day when the fundamentals take over and the knowledge that there is more natural gas available then demand will ever dictate, and prices will fall. Nonetheless, it doesn’t look like that’s going to be anytime soon.
Natural Gas forecast for the week of October 15, 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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