Natural Gas Forecast for the Week of February 13, 2012, Technical Analysis

The week saw very little change once it was said and done in the natural gas markets. The $2.40 area continues to act as support, and we currently look like we are in consolidation. The market is extremely weak though, and the trend is definitely down. The market cannot be bought at this point in time, and we see a lot of downward pressure starting just above at $2.60 and going all the way to $3 for the short-term. Needless to say, the downward pressure continues much farther up the price scale than that, but this is the immediate area of concern. In order to continue our selling of this market, we need to see fresh lows. In the meantime, longer-term traders will have to wait.

Natural Gas Forecast for the Week of February 13, 2012, Technical Analysis
Natural Gas Forecast for the Week of February 13, 2012, Technical Analysis

Leave a Reply

Your email address will not be published. Required fields are marked *