Technical forecast for Natural Gas

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Natural Gas appears directionless as we struggle with the 200 day moving average at 3.682 & Fibonacci resistance at 3.692/701. This area could hold the topside again today with the outlook more negative. However a break above here can run up towards 3.754, perhaps as far as 3.785.

Support at 3.608/606 has hold the downside for the last 2 sessions but a break lower today looks more likely & could target 3.577/574 then this week’s low of 3.546 before June lows at 3.526.

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