Natural Gas Forecast November 7, 2012, Technical Analysis

The natural gas markets rose like we had suspected and has now shown it to be supported in this general vicinity. We said that a break of the $3.60 level would convince us that this market was going higher, and we have touched that level. Because of this, a break of the candle for the Tuesday session highs would have us buying natural gas again. Going forward, we think that the $3.80 level would be resistive, but we also think that it is a short-term resistance area that will be overcome. The gap has been filled for the most part, and as such we do think that the buyers can step back into play.

 

Natural Gas Forecast November 7, 2012, Technical Analysis
Natural Gas Forecast November 7, 2012, Technical Analysis

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