By FXEmpire.com
The natural gas markets continued to fall on Thursday, even after it was announced that the market had burned through more than anticipated the previous week. The fact that the market can’t even rally in this light shows just how broken it really is. The $2.20 level below should still be supportive, and as a result we want to sell if we can break below it.
Rallies could be sold as well, as the trend is most decidedly in favor of selling. The $2.40, $2.60, $2.80, and $3 levels all offer excellent spots to sell on weakness. We simply cannot condone buying this contract at this point at the market has been so weak for so long.
Natural Gas Forecast March 23, 2012, Technical Analysis
Originally posted here
