Market Overview

Technical Forecast for Natural Gas

Technical Forecast for Natural Gas


Natural Gas hit our next target of 4.230/250 where we advised to exit longs & try shorts. This worked perfectly as prices backed away to support at 4.163/133 & a low for the day was seen
here exactly as predicted. We are moving back up towards 4.230/250 for another chance to exit longs & try shorts with stops above 4.275. We would look for a drift back again to support at 4.163/133 & a low for the day possible again. However we are very overbought now in the short term so a break lower is more likely today & could target 4.090/75. If we continue lower look for good support at 4.035/015 & a buying opportunity with stops below 4.000.
A break above 4.275 however keeps the upward momentum going for a test of 4.310/ 324. If attempting shorts here we need stops above 4.364.

The following article is from one of our external contributors. It does not represent the opinion of Benzinga and has not been edited.

Posted-In: Technicals Commodities Markets Trading Ideas


Related Articles

View Comments and Join the Discussion!