Natural Gas Forecast October 10, 2012, Technical Analysis

posted
By FX Empire Analyst - Christopher Lewis
Print
Font Size
T
T
T
Get Forex buy/sell signals directly to your email and by SMS.
To learn more click here

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

Find a Broker
Continue to FX Empire Network