Natural Gas Forecast March 8, 2012, Technical Analysis

Natural gas markets continued to look very weak during the Wednesday session as the market fell yet again. The recent breakdown of the massive symmetrical triangle was “60 cents tall”, and as such gives us an implied target of $2 in this market. There is absolutely nothing on this chart that suggests otherwise, and to be honest – $2 will more than likely only be a pause in this decline. The $1 mark is one a lot of analysts are calling for now, and we tend to believe them. We sell rallies on signs of weakness, and never, ever buy this contract.

Natural Gas Forecast March 8, 2012, Technical Analysis
Natural Gas Forecast March 8, 2012, Technical Analysis

 

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