Natural Gas Forecast September 20, 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 rose during the session on Wednesday, but found quite a bit of resistance above the $2.80 level. This formed a shooting star as a result, and it looks like the market is ready to start falling again. The fact that the buyers failed completely by the end of the session suggests that there is still plenty of selling pressure, and we think this is somewhat obvious as the trend is so strongly to the downside over the last couple of years. We are selling brakes of the lows for Wednesday, as we push towards $2.60 and below. As far as buying natural gas is concerned, we aren't even considering it until we get to $3.30 or above.

Natural Gas Forecast September 20, 2012, Technical Analysis

Natural Gas Forecast September 20, 2012, Technical Analysis

Find a Broker
Continue to FX Empire Network