Natural Gas - Daily technical Forecast

12 March 2010 @ 10:45 am EDT

Natural Gas closed lower on Thursday as it extends some of this winter's decline. The low-range close sets the stage for a steady to lower opening on Friday. Stochastics and the RSI are oversold but remain neutral to bearish signalling that sideways to lower prices are possible near-term. If it extends this winter's decline, weekly support crossing is the next downside target. Closes above the 20-day moving average crossing are needed to confirm that a low has been posted.

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