Natural Gas Forecast October 19, 2012, Technical Analysis
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The natural gas markets rose off of the $3.40 level on Thursday, as the bullishness continues in this market. We currently look like we’re consolidating between $3.40 and $3.60, but the fact that we closed at the very top of the range on Thursday does in fact suggest to us that we are going higher. On a move above the $3.60 level we think that this market continues much higher and towards the $4.00 level. Alternately, for $.50 is our long-term target, but we can expect choppy motion all the way up to that level.
With this being said, you can have a long-term core position in the UN G ETF, or you can play the futures markets and by extension the CFD markets, on various pullbacks going forward.
Natural Gas Forecast October 19, 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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