Technical forecast for Natural Gas

gas

Natural Gas pushed higher through 3.940/950 resistance & did make it above 3.970 but failed just below resistance at 4.000. We are very overbought short term now. Support at 3.938 should hold the key for today’s direction. A break lower does look possible & should signal profit taking which could pressure prices down towards 3.910/900. If we continue lower look for good support at 3.865/8500 & a buying opportunity today.

Resistance at 3.990/4.000 should hold the topside today. However a break higher targets
4.033/040, possibly 4.065/080 at a later stage.

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