Technical forecast for Natural Gas

nat_gas1

Natural Gas broke 3.426/434 but did not quite fill the gap at 3.548. We have held support at 3.445 and need to watch this level today being overbought short term. A break lower would target good support at 3.412/410 & a low for the day likely. May be worth trying longs but with stops below 3.380 for the next support & a buying opportunity at 3.358/353.

Yesterday’s high at 3.501 should be a struggle & it is only on a break above the gap at 3.548 that we can continue higher.

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