Natural Gas Forecast September 28, 2012, Technical Analysis

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

The natural gas markets rose again on Thursday as the $3.20 level has finally given way. The market certainly looks bullish of this point in time, but we still have the last bit of resistance at the $3.40 level. If that gives way, we think that the trend change will be completed this point, and we could see much higher prices.

Although we do not like the fundamentals for natural gas, the truth is that we are certain see serious strength in this market. Perhaps it is just simply been a matter of it being depressed for too long, and the law of averages have it snappy higher. Nonetheless, this is a trend that we should be able to take full advantage of if we get above this last resistance area.

The truth is that the recent move is probably a little bit overdone, but because of this we think that we may get multiple attempts to break the top. If we don't, and we get above that we will be looking for a pullback to show signs of support at $3.40 as it was so resistive. As for selling, even though we agree with it we will not do it now because the market is showing simply far too much strength.


Natural Gas Forecast September 28, 2012, Technical Analysis

Natural Gas Forecast September 28, 2012, Technical Analysis

Want to read more articles like this one?

Get the latest fundamental analysis, technical analyses and the most up-to-date news catered to your interests, everyday.

* Please enter a valid email

Activation link was sent

An activation link has been sent to your E-mail.
You will start getting emails only after activating your account.

Find a Broker
Continue to FX Empire Network