Natural Gas Forecast September 20, 2012, Technical Analysis
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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.
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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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