Natural gas markets fell again on Wednesday as the market continues to chug along at a bearish tempo. The market is certainly in a massive bear market at this point, and as such we only sell natural gas. However, the $2.40 level continues to offer strong support, so selling at this point is difficult to do. The $2.60 level looks to be continued resistance, and as such we look a bit range bound at this point. The breaking below the $2.40 level is what we are currently waiting on to continue selling this market. Once the market closes below that level on a daily chart - we are short. Also, we would consider selling rallies if there are signs of weakness going forward.

Natural

Natural Gas Forecast February 16, 2012, Technical Analysis

Natural Gas Pivot Points (Time Frame: 1 Day)

 Name  S3  S2  S1  Pivot  R1  R2  R3

 Classic
2.1547
2.2723
2.3467
2.4643
2.5387
2.6563
2.7307

 Fibonacci
2.2723
2.3457
2.3910
2.4643
2.5377
2.5830
2.6563

 Camarilla
2.3682
2.3858
2.4034
2.4643
2.4386
2.4562
2.4738

 Woodie's
-
2.2615
2.3250
2.4535
2.5170
2.6455
-

 DeMark's
-
-
2.5015
2.4457
2.3095
-
-