By FXEmpire.com
The natural gas markets rose on Tuesday as the Monday hammer suggested it would. Our analysis is still the same: We believe this bounce was overdue, but it will simply be a bounce and nothing more. Because of this, we prefer to sit back and let the market come to us, and sell it at higher prices. Of particular note is the $2.40 level which looks very resistive. However, this market has shown us time and time again that the bounces don’t necessarily make it all the way back to the resistance levels. Because of this, we are on the lookout for weak candles on the daily chart in case we need to short the market before the above mentioned level. Either way, we won’t be buying this contract.
Natural Gas Forecast April 4, 2012, Technical Analysis
Originally posted here
