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.
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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.
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…
