Natural Gas Forecast for the Week of January 23, 2012, Technical Analysis

Natural Gas markets continue to fall this previous week, and there is absolutely no sign of support anywhere. Quite frankly, markets like this don’t happen very often, but when they do, the bottom is something that takes a long time to form. The signs simply are not there now.

Going forward, selling is the only thing that can be done. The rallies are to be sold, and selling new lows, something we normally do, will be almost impossible to do as the move is much oversold at this point. The potential pain of a bounce going against you could be a reason to wait for the pullback to sell form higher levels at this point. $3 is now thought of as massive resistance.

Natural Gas Forecast for the Week of January 23, 2012, Technical Analysis
Natural Gas Forecast for the Week of January 23, 2012, Technical Analysis

One thought on “Natural Gas Forecast for the Week of January 23, 2012, Technical Analysis”

  1. And what a bounce would you not agree. I am following you`re good advice, and looking forward to your comments on todays action in Nat gas. Target 3 in the short run before bear again ?

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