Natural Gas Forecast October 24, 2012, Technical Analysis

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By FX Empire Analyst - Christopher Lewis
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The natural gas markets fell during the Tuesday session, but bounced off of the 3.40 level yet again. This market is currently consolidating just above that handle, and as such we believe that the market still wants to go higher. However, we need to see a significant break above the 3.60 level in order to start buying again. In the meantime, we fully expect this market to be choppy and sideways within this $.20 range. Going forward, we expect to eventually start buying again, but need to see that daily close above the 3.60 handle.

 

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