Natural gas fell yet again on Wednesday as the bears have stepped back into the markets. The inability of the recent pullback of drilling by Chesapeake and others to rally the markets certainly says everything you need to know: Natural gas cannot be bought in this environment, and there is little chance that will change soon.

The market is to be sold, and rallies are a great way in which to do so. A fresh low could also be a catalyst at this point in time, and as a result we will be watching for either event to happen. There is absolutely no scenario where we buy this contract.

Natural

Natural Gas Forecast February 2, 2012, Technical Analysis

Natural Gas Pivot Points (Time Frame: 1 Day)

 Name  S3  S2  S1  Pivot  R1  R2  R3

 Classic
2.1877
2.2618
2.3297
2.4038
2.4717
2.5458
2.6137

 Fibonacci
2.2618
2.3161
2.3496
2.4038
2.4581
2.4916
2.5458

 Camarilla
2.3584
2.3715
2.3845
2.4038
2.4105
2.4235
2.4366

 Woodie's
-
2.2603
2.3265
2.4022
2.4685
2.5442
-

 DeMark's
-
-
2.4377
2.3869
2.2957
-
-