Technical forecast for Natural Gas

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Natural Gas moved back up towards 4.230/250 for another chance to exit longs & try shorts & hit support at 4.163/133 to bottom out as expected. We then shot through 4.230/250 to keep the upward momentum going for a test of 4.310/ 324 today. If attempting shorts here we need stops above 4.364 for a test of recent highs at 4.400-4.444.

4.250/230 is now good support & could hold the downside. However below here look for a buying opportunity at 4.163/133 with stops below 4.120.

Jason Sen began his career in the options pits on the trading floor of LIFFE in 1987 at the age of 19, making markets on his own account. In 2001 when the trading floor closed he successfully made the transition to day trading on computer screens. Jason always had an interest in technical analysis throughout his trading career but began to study this area in depth from 2006. www.daytradeideas.com has established itself as the leading provider of... More