Natural Gas Forecast October 3, 2012, Technical Analysis

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The natural gas markets fell during much of the session on Tuesday, but bounced off of the $3.40 level in order to clear the $3.50 resistance level. The resulting candle looks a lot like a hammer, and as such if we continue higher and break the top of the resistance for the Tuesday session, we think this market will grind much higher. Ultimately, we feel like this market will continue much higher, but the truth is there will be plenty of opportunities to buy on the pullbacks, which is essentially what we plan on doing.

 

Natural Gas Forecast October 3, 2012, Technical Analysis

Natural Gas Forecast October 3, 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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