Natural Gas Technical Analysis for the Week of October 17, 2011
The natural gas markets rose during the past week as the US dollar continues to get sold off against most other assets. The bounce is a great opportunity to sell from higher levels in our opinion, as the fundamentals haven’t changed in this market at all. The 300 years worth of natural gas in the US alone is reason enough to think supply is going to be an overhang in this market for a long time. The $3.75 level pushed back on Friday, so we think selling can be done again. The $4 should be massively resistive as well.
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