Natural Gas Forecast January 4th, 2012, Technical Analysis

Natural gas markets tried to rally on Tuesday, but were sold off in the end to form another shooting star in this market. The candle shows up at the bottom of a long bearish move, and this spells trouble for the bulls. The supply in this market is so much that there simply isn’t a case for buying it under any circumstances. The breaking below the bottom of the trading range for the Tuesday shooting star forces us to sell again. However, we really do prefer to sell this market after a bounce – perhaps at the $3.50 or $3.25 levels.

Natural Gas Forecast January 4th, 2012, Technical Analysis
Natural Gas Forecast January 4th, 2012, Technical Analysis

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