Natural Gas Forecast September 17, 2012, Technical Analysis

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The natural gas markets fell again and broke below the hammer from Thursday in order to confirm it as a “hanging man.” This is a very bearish sign, and we think that if we can get below the $2.90 level, we will fall to retest the to $2.60 level again. We have this chart, it has been a slow grind higher, but the fact is are simply far too much supply for demand to soak up in this market. Because of this, we are still structurally bearish of the natural gas markets, and will certainly be looking to sell soon.

 

Natural Gas Forecast September 17, 2012, Technical AnalysisNatural Gas Forecast September 17, 2012, Technical Analysis

Natural Gas Forecast September 17, 2012, Technical AnalysisNatural Gas Forecast September 17, 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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