Natural Gas Forecast October 12, 2012, Technical Analysis
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The natural gas markets absolutely exploded when a larger than expected drawl down from the US inventory stockpile was announced during Thursday session. This smashed the $3.50 level as resistance, and it now looks like we are ready to start heading higher. With this in mind, we are very bullish of the natural gas markets, and even bought futures contracts during the session on Thursday.
We believe that any pullbacks to the 3.50 level should continue to offer support, and as such we are more than willing to buy options, futures, and even the UNG ETF, a source of great aggravation for traders over the last couple years. However, with the natural gas markets becoming so obviously bullish, this ETF should start to perform again.
Natural Gas Forecast October 12, 2012, Technical Analysis
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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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