Technical forecast for Natural Gas

Natural Gas managed a break above 3.692/701 to reach our upper target of 3.785 & surprised with continued gains to 3.835. We can continue higher again today for Fibonacci resistance at 3.869/877. A high for the day is possible here but just above is the 100 day moving average at 3.910 for a selling opportunity.

If we see a drift lower look for support at 3.785 but below here we may see 3.743.

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