Natural Gas Forecast for the week of September 17, 2012, Technical Analysis

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The natural gas markets rose during the week as the grind higher continues. However, we have a hanging man from Thursday that was broken on Friday and this does suggest lower prices. On top of that, this is with the overall trend of the marketplace so we do prefer this type of signal. As for the weekly chart though, it must be stated that we are grinding higher overtime. However, there is far too much supply out there for demand to take care of. At this point time we are still bearish of this market but cognizant of the fact that if the $3.30 level get broken to the upside, we would have to start buying.

 

Natural Gas Forecast for the week of September 17, 2012, Technical Analysis

Natural Gas Forecast for the week of September 17, 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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