Natural Gas Forecast September 5, 2012, Technical Analysis
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The natural gas markets had a positive session again on Tuesday, but failed to break above the $2.90 resistance level. This suggests to us that we are still in a very bearish market, and as such do not buy into this rally. In fact, if we break below the lows from the Tuesday session, we are more than willing to add to our position in this market.
Selling is the only way you can trade natural gas at this point, as the downtrend is so strong. Ultimately, there is far too much natural gas for the demand that’s out there, and as such we think that prices will continue to fall. Granted, we are going into the cooler months of the year for the northeastern United States which is typically a bullish season for natural gas, but we think that massive amount of supply will continue to weigh upon pricing.
Natural Gas Forecast September 5, 2012, Technical Analysis
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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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