Natural Gas - Daily technical Forecast

By IBTimes Staff Reporter | March 05 2010 10:49 AM

Sponsorship Link

Natural Gas closed lower on Thursday as it extends some of Monday's decline and remains below the 87% retracement level of the December-January rally crossing. 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, December's low crossing is the next downside target.

More in Commodities

Brent Lower on Ample Supply and Waning Demand

Brent Lower on Ample Supply and Waning Demand

Energy - Balancing the Bonanza: Interview with Mark Thoma

Energy - Balancing the Bonanza: Interview with Mark Thoma

Brent Slips Toward $100 on Strong Dollar and Weak Chinese PMI

Brent Slips Toward $100 on Strong Dollar and Weak Chinese PMI

Brent Dips on US Demand Woes

Brent Dips on US Demand Woes

In Depth

Gun Control News: Pryor Condems Bloomberg's Use Of Friend's Death In New Attack Ad

Mark Pryor To Bloomberg: Your New Ad Is 'Disgusting'

Cruise Passengers Get ‘Bill Of Rights,’ But Critics Are Skeptical Of The Wording

Dear Cruise Passengers: Here’s Your New ‘Bill Of Rights’

Obama Heckler Medea Benjamin Of Code Pink Acknowledged During President's Drone Speech: 'That Woman Is Worth Listening To' [VIDEO, PHOTO]

Obama, With Deft Words, Copes With Heckler During Drone Speech

Joe Biden's UPenn Commencement Address Upsets Chinese International Students

UPenn's Chinese Students Demand Biden Apologize For Graduation Speech

web counter