Natural gas markets had another fairly quiet day on Thursday as inventories remain high. The market is certainly looking a bit more stable than it had over the last year, and a triangle is now obvious on the chart. However, the triangle hasn't been broken in either direction, and as long as that remains the case - we are flat in this market. The commodity could be starting to base a bit, but the reality is that the trend is most decidedly down, even with the recent action. Because of this, we are selling a break below the bottom of the triangle, or rallies that show signs of weakness going forward, with particular interest at the $3 level.

Natural

Natural Gas Forecast February 24, 2012, Technical Analysis

Natural Gas Pivot Points (Time Frame: 1 Day)

 Name  S3  S2  S1  Pivot  R1  R2  R3

 Classic
2.5287
2.6093
2.6887
2.7693
2.8487
2.9293
3.0087

 Fibonacci
2.6093
2.6705
2.7082
2.7693
2.8305
2.8682
2.9293

 Camarilla
2.7240
2.7387
2.7533
2.7693
2.7827
2.7973
2.8120

 Woodie's
-
2.6090
2.6880
2.7690
2.8480
2.9290
-

 DeMark's
-
-
2.8090
2.7495
2.6490
-
-