By CommoditiesMansion.com
Natural gas had a small move up, testing the $4.50 area that we pointed out last week, and has since fell. In fact, the daily bar is a bit of a shooting star, and could be signaling an imminent pullback. At this point, we need to see a print above the $4.50 mark in order to get bullish in this market.
However, there is support below, and this doesn’t necessarily mean the bullish run is over. $4.20 sees the market being supportive on a pullback as shown by two dojis being right there. A move below that sends us down to retest the $4.00 handle for support as well.
A move above $4.50 would send the Nat Gas market looking for $4.80.
Originally posted here
More articles:
- Gold Forecast for March 29, 2011
- Oil Forecast for March 29, 2011
