Natural gas markets continued weakness on Thursday as the markets continue the downtrend. The triangle that had us selling is still broken, and still suggests that we are going to the $2 handle sooner or later. So now this position starts to look like one that we can have a core position short, while adding and subtracting as time goes on and price dictates. We cannot buy this contract at this time, and wouldn't even consider it until we clear at the very least $3, and more than likely $4. We will add to our sell positions on rallies and new lows going forward until we hit $2, where we would expect some kind of reaction to the round number.
Natural Gas Forecast March 2, 2012, Technical Analysis
Natural Gas Pivot Points (Time Frame: 1 Day)
Name S3 S2 S1 Pivot R1 R2 R3