The natural gas markets fell slightly during the Monday session as traders continued to pressure prices in this commodity. The fundamental picture for natural gas is extremely ugly, as there is far too much of it to command any pricing power from the suppliers. The trend is most decidedly down, and there is nothing on this chart that leads us to believe that it is going to change anytime soon.

The $2.20 level looks to be supportive at this time, and as such we think that a bounce could be coming. However, this will only be a chance to sell this market at higher prices. The gap from a couple of weekends ago should be resistive, as will the $2.60, $2.80, and $3 levels. We are selling rallies as they come, looking for signs of weakness on short time frames.

Natural

Natural Gas Forecast March 13, 2012, Technical Analysis

Natural Gas Pivot Points (Time Frame: 1 Day)

 Name  S3  S2  S1  Pivot  R1  R2  R3

 Classic
2.1367
2.1758
2.2197
2.2588
2.3027
2.3418
2.3857

 Fibonacci
2.1758
2.2075
2.2271
2.2588
2.2905
2.3101
2.3418

 Camarilla
2.2407
2.2483
2.2559
2.2588
2.2711
2.2787
2.2863

 Woodie's
-
2.1770
2.2220
2.2600
2.3050
2.3430
-

 DeMark's
-
-
2.2807
2.2479
2.1978
-
-