By FXEmpire.com
In a rather uneventful day on Monday, the natural gas markets gained almost 3 cents as the $2 level was reclaimed by the buyers. However, this isn’t to suggest that there was some kind massive amount of support, rather more of a lack of selling interest at the moment. The trend has been relentless, and the markets are simply resting after covering so much ground during the last year.
We still sell rallies, and we welcome the action from Monday as a sign that perhaps someone out there is willing to try and push the price higher – leaving us a chance to sell from higher levels. We are going to continue to sell rallies on signs of weakness, and will also sell fresh lows going forward. Buying isn’t a thought at the moment.
Natural Gas Forecast April 17, 2012, Technical Analysis
Originally posted here
