Natural gas markets continue look very bearish today, finishing down towards our $4.00 support area. Traders will begin to wonder whether or not support is going to hold below. However, this is a significant area for possible support. Add to that the Fibonacci study that shows the $4.10 area as being a 61.8% retracement and buyers may start to get interested. A break below the $4 handle would be very bearish and have us possibly testing the lows. If the market can hold, we could see another attempt at $4.50. If not, the bear market will be back in full force again.
Originally posted here
Read more about commodities technical analysis, commodities fundamental analysis and commodities news on CommoditiesMansion.com
About CommoditiesMansion.com:
www.CommoditiesMansion.com is a part of the Finance Mansion Network which operates global financial websites. Our goal is to provide our readers with the most accurate, quality and up-to-date technical analysis, fundamental analysis and news in order to assist them in making the right financial decisions.
The Finance Mansion Network includes www.FinanceMansion.com,www.ForexMansion.com, www.StocksMansion.com, www.CommoditiesMansion and many more.
