Natural Gas Forecast October 11, 2012, Technical Analysis

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By FX Empire Analyst - Christopher Lewis
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The natural gas markets had a positive session after first getting below the $3.40 level on Wednesday. The fact that we formed a hammer looking candle after a hammer on Tuesday, suggested that we are building pressure to the upside. This is why we firmly believe in buying this market above the $3.50 level, and will gladly do so after the natural gas storage announcement later today. This can of course move the markets, so we need to wait until that happens. Unless the build is outrageous, we think that eventually this market will move higher than the $3.50 resistance area. Because of this, options can be bought in order to save yourself a little bit of money, or you can wait until after the announcement and by the actual futures themselves.

 

Natural Gas Forecast October 11, 2012, Technical Analysis

Natural Gas Forecast October 11, 2012, Technical Analysis

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