Natural gas markets rose a bit later in the Monday session as the supportive action in the $2.50 level continues. The last two sessions have printed hammers, and it looks like the area is going to put a bid in the market. The trend is most certainly down, and the smart money won't be bothered with this pseudo-rally that is presently trying to happen. The $2.80 and $3 levels above will be very resistive, and it is at those levels that we are going to be looking for signs of weakness on a daily close such as a shooting star, engulfing bearish candle, or other such weak candles. We will not buy this market under any circumstance.
Natural Gas Forecast February 7, 2012, Technical Analysis
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