Natural Gas Forecast October 25, 2012, Technical Analysis

Get Forex buy/sell signals directly to your email and by SMS.
To learn more click here

The natural gas markets had an interesting session on Wednesday as we initially rallied, but fell short of the mark and fell to print a shooting star. The market now sits at $3.43 as of closing, and essentially was unchanged for the session. We are sitting on support just above the $3.40 level, and as such we would expect further consolidation under most conditions.

However, the fact that this candle is a shooting star after a very negative session on Tuesday, we are getting a little bit cautious of the natural gas markets. Because of this, we will simply wait until we get a daily close above the $3.62 level in order to show that we’ve the upside. As for selling, it may be a bit difficult until we get below the gap that formed right around the $3.00 level.


Natural Gas Forecast October 25, 2012, Technical Analysis

Natural Gas Forecast October 25, 2012, Technical Analysis

Want to read more articles like this one?
Enter your e-mail address and read FX Empire content directly from your inbox.
We value your privacy. Your e-mail address will not be shared.
About: FX Empire Analyst - Christopher Lewis

Christopher is a part of the 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.

  View all of FX Empire Analyst - Christopher Lewis's Articles    
Share Your Thoughts: Post a Comment

Your email address will not be published.