By FXEmpire.com
The natural gas markets rose for much of the session on Thursday as the bargain hunters came out in force. The $2 level had been broken, but there was a reaction finally on Thursday as prices rose.
This bounce was something that we were looking for, and suggested selling if it ever came. Surprisingly, it only came after a severe break and not at the mark like it normally does. The move came late – but the fact that it came reaffirmed our idea that the $2 level will be considered to be “far too low” for some. However, as you can see – it wasn’t, with the market forming a shooting star for the session in the end. This suggests further selling, and this is what we are doing on a break of the lows.
Natural Gas Forecast April 13, 2012, Technical Analysis
Originally posted here
