Natural Gas Forecast September 10, 2012, Technical Analysis

Posted September 09, 2012 6:40 (GMT) | By FX Empire Analyst - Christopher Lewis | Print | Font Size      
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The natural gas markets fell on Friday as the downtrend continues. We now are approaching the $2.60 level, and as such we think that’s we are about to retest significant support. This market is obviously bearish, and as such we are more than willing to sell. The $2.60 level should give way eventually, and we think that the $2.30 level will be attempted over the next several weeks.

We have absolutely no interest in buying natural gas at this point, and think it is a “sell only” market. On rallies, we are more than willing to sell resistive looking candles, and if we manage to break out to the downside, we are more than willing to start selling aggressively once we get below the $2.60 level.

Natural Gas Forecast September 10, 2012, Technical Analysis

Natural Gas Forecast September 10, 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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Pete

Really? I know a few other analysts who are calling to buy natural gas now or soon, including Mike Paulenoff and Chris Vermeulen. Also, natural gas is approaching its typical time of season strength.