The natural gas markets fell slightly during the session on Monday as the traders simply cannot get excited about the prospects of this commodity overall. The supply continues to drown the demand as the new practices available has increased supply exponentially.

The recent price action suggests that perhaps the market is taking a well-needed break, but the $2.30 level seems to be the key at this point. The breaking of this level on a daily close will almost certainly have the market gunning for the $2 level, and as the highs continue to fade, this seems to be the direction we are heading. On a daily close below the above mentioned level - we are selling again.

Natural

Natural Gas Forecast February 14, 2012, Technical Analysis

Natural Gas Pivot Points (Time Frame: 1 Day)

 Name  S3  S2  S1  Pivot  R1  R2  R3

 Classic
2.2843
2.3322
2.3893
2.4372
2.4943
2.5422
2.5993

 Fibonacci
2.3322
2.3723
2.3971
2.4372
2.4773
2.5021
2.5422

 Camarilla
2.4176
2.4272
2.4369
2.4372
2.4561
2.4657
2.4754

 Woodie's
-
2.3345
2.3940
2.4395
2.4990
2.5445
-

 DeMark's
-
-
2.5183
2.4491
2.4133
-
-