Natural Gas Forecast Nov. 17th, 2011, Technical Analysis

Natural gas continued to fall on Wednesday as the trend press on. The downward momentum in this market is momentous at this point as well. The $3.50 gave way a few days ago, and as such we entered into a new range. The downward pressure should continue to press on, and we are willing to sell any and all rallies at this point. The $4 level is considered crucial to the downtrend, and if we somehow break above that – we would have to rethink things. Until then – we are massively bearish.