Technical Forecast for Natural Gas
Natural Gas tested good support at 3.412/410 for trying longs with stops below 3.380 & this trade worked perfectly as we bottomed at 3.388. However the outlook is turning more negative with the small double top so we need to take profit quickly on longs. Be ready to go with a break below 3.410 today for a move towards the next support at 3.360/355. We could see a short term bounce from here but on a break lower look for 3.315 & perhaps as far as 3.275/70 for a buying opportunity with stops below 3.255.
Exit longs up to 3.444 as this could hold the topside. We can then try shorts on a move towards 3.500 with stops above 3.520. We should then fill the gap at 3.548 for a selling opportunity today.
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