Natural Gas Forecast September 3, 2012, Technical Analysis

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The natural gas markets initially fell during the Friday session, but bounced off of the $2.70 level in order to form a hammer. This hammer shaped candle is at the top of the recent up move, and it should be noted that the $2.80 level where it sends currently is the beginning of serious resistance.

Because of this, we feel that a break below the hammer lows at $2.70 would be a significant sell signal. We are currently looking for weak candles to sell all the way up to the $3.25 level, but truthfully would prefer them below the $3.00 level. As for buying this market, we have no interest in it currently.

Natural Gas Forecast September 3, 2012, Technical Analysis

Natural Gas Forecast September 3, 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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