Markets

Natural Gas Forecast February 24, 2012, Technical Analysis

Natural gas markets had another fairly quiet day on Thursday as inventories remain high. The market is certainly looking a bit more stable than it had over the last year, and a triangle is now obvious on the chart. However, the triangle hasn't been broken in either direction, and as long as that remains the case - we are flat in this market. The commodity could be starting to base a bit, but the reality is that the trend is most decidedly down, even with the recent action. Because of this, we are selling a break below the bottom of the triangle, or rallies that show signs of weakness going forward, with particular interest at the $3 level.

"Natural

Natural Gas Forecast February 24, 2012, Technical Analysis

Natural Gas Pivot Points (Time Frame: 1 Day)

Name S3 S2 S1 Pivot R1 R2 R3
Classic 2.5287 2.6093 2.6887 2.7693 2.8487 2.9293 3.0087
Fibonacci 2.6093 2.6705 2.7082 2.7693 2.8305 2.8682 2.9293
Camarilla 2.7240 2.7387 2.7533 2.7693 2.7827 2.7973 2.8120
Woodie's - 2.6090 2.6880 2.7690 2.8480 2.9290 -
DeMark's - - 2.8090 2.7495 2.6490 - -

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


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

Other Topics

Commodities