Natural gas fell in the second half of the week to form a shooting star at the bottom of the recent downtrend. The market currently sits just above the $3 mark, and it looks like we are winding up breaking below it. The level is a natural one to offer support as it is a large psychological round number. The candle that formed for the week does suggest that a breakdown could be coming as the rally faded yet again. We are selling all rallies in this pair, and would be aggressively short if we can break below the lows form this shooting star.
Natural Gas Forecast for the Week of January 9th, 2012, Technical Analysis
Originally posted here
