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Natural Gas Forecast December 30, 2011, Technical Analysis

By:
Christopher Lewis
Updated: Jan 1, 2011, 00:00 UTC

Natural gas markets fell on Thursday as the rout in this market continues. The $3 mark held though, but the volume was fairly strong, especially when you

Natural Gas Forecast December 30, 2011, Technical Analysis

Natural gas markets fell on Thursday as the rout in this market continues. The $3 mark held though, but the volume was fairly strong, especially when you consider the time of year. With this in mind, we see the $3 level as important, but one that will eventually give way under all of this pressure. We are still selling rallies all the way to the $4 mark, and fresh lows on daily closes below $3 as well. We will not buy the natural gas futures under any circumstance at this point.

Natural Gas Forecast December 30, 2011, Technical Analysis
Natural Gas Forecast December 30, 2011, Technical Analysis

About the Author

Being FXEmpire’s analyst since the early days of the website, Chris has over 20 years of experience across various markets and assets – currencies, indices, and commodities. He is a proprietary trader as well trading institutional accounts.

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