Technical forecast for Natural Gas

natgas

Natural Gas held Thursdays range & topped exactly at 3.690/701, which was our selling opportunity for the day.

Immediate support is 3.634 but below here risks a slide to 3.577/573. A break below 3.565 today then signals a retest of recent lows at 3.531/526. With the outlook still negative we cannot rule out a break lower to very good support at 3.476/473.

If however we can hold above 3.634 look for 3.690/701 to offer a selling opportunity once again with stops above 3.730.

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