The natural gas markets rose slightly on Monday to press against the $2.40 level. The candlestick that was produced looked a little bit of a shooting star, but the candle isn't exactly convincing. The trend is obviously down, and we certainly favor selling this market because of it. The $2.60, $2.80, and $3 levels all look interesting to us for selling spots, but it has to be noted that we might not get those levels as the $2.40 level could hold. If it does, we would sell on a break below the $2.20 bottom. Otherwise, we are looking for signs of weakness at the above mentioned levels.

Natural

Natural Gas Forecast March 20, 2012, Technical Analysis

Natural Gas Pivot Points (Time Frame: 1 Day)

 Name  S3  S2  S1  Pivot  R1  R2  R3

 Classic
2.1443
2.2072
2.2793
2.3422
2.4143
2.4772
2.5493

 Fibonacci
2.2072
2.2587
2.2906
2.3422
2.3937
2.4256
2.4772

 Camarilla
2.3144
2.3268
2.3391
2.3422
2.3639
2.3763
2.3886

 Woodie's
-
2.2095
2.2840
2.3445
2.4190
2.4795
-

 DeMark's
-
-
2.4457
2.3579
2.3108
-
-