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Natural Gas Forecast December 29, 2011, Technical Analysis

By:
Christopher Lewis
Updated: Jan 1, 2011, 00:00 GMT+00:00

Natural gas markets had a bearish day on Wednesday as traders continue to go back and forth in light volume. The $3 level just below is offering

Natural Gas Forecast December 29, 2011, Technical Analysis

Natural gas markets had a bearish day on Wednesday as traders continue to go back and forth in light volume. The $3 level just below is offering significant support as one would expect out of the large handle. The market is a bit oversold, so we are very interested in selling after rallies at this point. We like looking for weakness at $3.25 and $3.50 in which to sell. In the meantime, we think the market grinds sideways as the year winds down.

Natural Gas Forecast December 29, 2011, Technical Analysis
Natural Gas Forecast December 29, 2011, Technical Analysis

About the Author

Chris is a proprietary trader with more than 20 years of experience across various markets, including currencies, indices and commodities. As a senior analyst at FXEmpire since the website’s early days, he offers readers advanced market perspectives to navigate today’s financial landscape with confidence.

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