Technical Forecast for Natural Gas
Natural Gas unable to beat 3.500 for the third day. We are getting overbought so we should struggle here again today but stops on shorts above 3.520 needed. We should then fill the gap at 3.548/556 for a selling opportunity today.
Good support at 3.412/410 for trying longs today with stops below 3.385. However the outlook is turning more negative so be ready to go with a break lower for a move towards the next support at 3.360/355 & a buying opportunity. We should see a short term bounce from here but on a break lower look for 3.330/315 & perhaps as far as 3.275/70 for a buying opportunity with stops below 3.255.
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