Natural Gas Fundamental Analysis Jan. 18, 2012, Forecast
Analysis and Recommendations:
Natural Gas dropped today as expectations of warmer weather have reduced demand expectations for the fuel amid ongoing production growth. Natural gas for February delivery declined 18 cents, or 6.8%, to settle at $2.49 per million BTU, the lowest since 2002. Storage have accumulated due to the warmer weather trend in most of the U.S. and spring is getting close, and the total days left in winder are running out.Prices are likely to end below $2 by late February and early March. Natural Gas is a good sell especially if you sell on the blips up.
Support and Resistance levels for tomorrow S: 2.49 2.51 2.54
R: 2.58 2.61 2.63
Originally posted here
