Natural Gas Forecast September 11, 2012, Technical Analysis

posted
By FX Empire Analyst - Christopher Lewis
Print
Font Size
T
T
T
Get Forex buy/sell signals directly to your email and by SMS.
To learn more click here

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

Find a Broker
Continue to FX Empire Network