Natural Gas Forecast October 10, 2012, Technical Analysis

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Natural gas markets initially fell during the session on Tuesday, but got a reversal as buyers stepped in just above the $3.30 level in order to push markets back above the $3.40 area. We still haven’t broken out and above the $3.50 level, so we don’t have our buy signal yet. However, it does look like we should continue higher in the long run. This being said, we are waiting for that type of pullback that shows a supportive candle that will be the buy signal once we get it. As far as selling is concerned, we would need to see a daily close below the $3.30 level, something that doesn’t look likely in the short-term.

Natural Gas Forecast October 10, 2012, Technical Analysis

Natural Gas Forecast October 10, 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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