Natural Gas futures haven't been able to manage a rally despite trading into low price territory not seen since the early 2000's. The latest attempt at a move higher saw the market repelled neared the $2.80 per million BTU price level, falling back to form an orderly Channel Down chart pattern. The pattern is being tracked on Autochartist's hourly time frame under the emerging patterns heading.

A breach of the resistance provided by the Channel would telegraph such a move is potentially forming, with a short term forecast generated by Autochartist on confirmation of the breakout. Alternatively, a resumption of the slide below the channel support near $2.40 would trigger a forecast for still further declines to ensue for this market. For further information on this and other Autochartist products, visit our website at www.autochartist.com