By FX Empire.com
The natural gas markets fell during the week, and have started to form a triangle between the $3 and $2.40 levels. The tightening of this market could suggest a possible surge coming up, and considering how bearish the market is overall, one would have to think the more likely of the two possibilities is selling. The market is completely overdone as far as capacity, and because of this, it is hard to make a case for buying. On a break of the bottom of the triangle, we suspect a move down to the $2 mark is in the cards. If we break higher instead, we will simply wait for weakness from which to sell.
Natural Gas Forecast for the Week of February 27, 2012, Technical Analysis
Originally posted here
