Natural Gas Forecast Nov. 16th, 2011, Technical Analysis

The natural gas markets continued to fall on Tuesday as the supportive area at $3.50 has been “given”. The market looks extremely weak at this point, but one has to think a bounce should be coming. After all, there will certainly be some profit taking sooner or later. Because of this observation, we are waiting for a bounce to sell, more than likely at the $3.50 or $3.75 level as it should turn into resistance now that we are significantly lower. We cannot in good faith buy this contract as it is simply broken at this point.

Natural Gas Forecast Nov. 16th, 2011, Technical Analysis

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