Technical Forecast for Natural Gas
Natural Gas pushed higher through 3.940/950 resistance & did make it above 3.970 but failed just below resistance at 4.000. We are very overbought short term now. Support at 3.938 should hold the key for today’s direction. A break lower does look possible & should signal profit taking which could pressure prices down towards 3.910/900. If we continue lower look for good support at 3.865/8500 & a buying opportunity today.
Resistance at 3.990/4.000 should hold the topside today. However a break higher targets
4.033/040, possibly 4.065/080 at a later stage.
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