Natural Gas Forecast September 11, 2012, Technical Analysis

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The natural gas markets had a decent surge during the Monday session as prices climbed back over the $2.80 handle. The $2.90 level is still massively resistance as far as we can tell, and as such we certainly wouldn’t be willing to buy at this point in time.

The long-term downtrend still remains in this market, although it has been much more supported over the last couple of months. Nonetheless, we think that this is a cyclical issue, and as such we will be looking for opportunities to sell natural gas. On a break below the $2.60 level, we’re aggressively shorting this market. We would also short a weak candle at the $2.90 area as it would show a continuation of the resistance.

Natural Gas Forecast September 11, 2012, Technical Analysis

Natural Gas Forecast September 11, 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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Bill Perry

Hi Chris,

any way to get your NatGas tech analysis via email when released daily?

FX Empire Analyst - Christopher Lewis

Sure, please register to the FX Empire newsletter above and choose the instruments and analysis type you want to get via email daily.

 
 
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watson

hi chris,

just wondering how high NG will go this time in your TA. currently it touched 2.991. seems it is going to break $3 soon. Interesting…

FX Empire Analyst - Christopher Lewis

I don’t think it will break the 3.30 level, or in other words the last high. However, we have to adapt, and as such be willing to change our minds/analysis on the fly…

 
 

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