Natural Gas Forecast July 27, 2012, Technical Analysis

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The natural gas markets had a relatively volatile session as the market finishes the day barely changed. The $3.00 level was tested as support again, and it did hold true. The resulting candle however, is more neutral than it is a hammer and as such while we see this as a supportive, we are necessarily overly impressed.

Under normal circumstances, we would be willing to buy this market on a break of the highs from the Thursday candle. However, we are going to play a little bit more conservatively and wait until a clean break in daily close above the $3.20 level.

 

Natural Gas Forecast July 27, 2012, Technical Analysis

Natural Gas Forecast July 27, 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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