Natural Gas Forecast June 6, 2012, Technical Analysis

The natural gas markets had a fairly productive session on Tuesday as the daily candle ended up being a hammer. The $2.50 level looks as if it is a stand being made by the bulls in this market. However, overall the situation for natural gas isn’t conducive for higher prices, so the fact remains that we are only selling this commodity at the moment. Obviously, there are some things that would change our minds. For example, a break above the $3 level would be a serious push by the bulls that would have to be taken seriously. As things stand at the moment, we are looking to sell weak candles on the daily chart – something we just don’t see at this time. $2.80 and $3 should both be very resistant. 

Natural Gas Forecast June 6, 2012, Technical Analysis
Natural Gas Forecast June 6, 2012, Technical Analysis

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