By FX Empire.com
The natural gas markets rose slightly for the Friday session, and the market continues to consolidate around the $2.20 level. The market looks as if it wants to form some kind of base at the moment, and a bounce certainly cannot be ruled out. However, we simply cannot come up with a good reason to buy this market, so we are waiting for the bounce in order to sell from higher levels on signs of weakness. Suitable areas will be the $2.40, $2.60, $2.80, and the $3 mark. Of course, if we find the market closing on a daily chart below the $2.20 level, we would have to sell as well.
Natural Gas Forecast March 19, 2012, Technical Analysis
Originally posted here
