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Natural Gas Technical Analysis 10/23

By International Business Times,  October 23, 2012, 03:55:21 AM EDT

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NATURAL GAS posted a key reversal down on Monday. The lowrange close sets the stage for a steady to lower opening on Tuesday. Stochastics and the RSI are diverging and are neutral to bullish signalling that sideways to higher prices are possible nearterm. If it extends the rally off August's low, the 50% retracement level of the 20112012decline crossing is the next upside target. Closes below the 20day moving average crossing would confirm that a shortterm top has been posted.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Commodities

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