Natural Gas Forecast July 9, 2012, Technical Analysis

By FX Empire Analyst - Christopher Lewis
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The natural gas markets had an absolutely wild session on Friday as traders both pushed price above the $3.00 level, and then completely reversed after the poor jobs number came out to form a wicked outside bearish scandal. This is without a doubt a massively negative signal in this market, and it does look like we are ready to continue with the down trend. When look at the totality, this recent rise has been fairly impressive, but in the big scheme of things a very limited bounce. After the Friday session we believe that shorting on a break of the lows from that session is a valid trading strategy. We would not buy this market for any reason whatsoever at this point in time.

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