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

Natural Gas Forecast October 19, 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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