Natural Gas Forecast January 3, 2012, Technical Analysis

Natural gas fell again during the session on Monday, but managed a slight bounce to form a hammer under the $3 mark. The market has been sold relentlessly over the last several months, and as a result isn’t able to be bought, even though it is starting to look more and more like a bounce could be coming. The bounce that should appear will more than likely only end up being another opportunity to sell this market as the long downtrend continues. The supply continues to outweigh any demands out there, and the $3.25 and $3.50 levels both look resistive and possible selling points on weakness.

Natural Gas Forecast January 3, 2012, Technical Analysis
Natural Gas Forecast January 3, 2012, Technical Analysis

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