The natural gas markets did almost nothing during the Tuesday session that saw weak volume as well. Quite frankly, the market has been beat down so much that a bit of a rest makes sense. Also, there are signs of support at the $2.20 level, and we think bottom feeders might try to get involved at this point. The market is to only be sold, and this action just tells us to be calm and wait for the inevitable bounce that should be coming soon. We look at the $2.60, $2.80, and $3 levels as potentially strong areas of resistance to sell from. We are waiting for the rally, and then will sell the first sign of weakness.

Natural

Natural Gas Forecast March 21, 2012, Technical Analysis

Natural Gas Pivot Points (Time Frame: 1 Day)

 Name  S3  S2  S1  Pivot  R1  R2  R3

 Classic
2.2027
2.2488
2.2917
2.3378
2.3807
2.4268
2.4697

 Fibonacci
2.2488
2.2828
2.3038
2.3378
2.3718
2.3928
2.4268

 Camarilla
2.3100
2.3182
2.3263
2.3378
2.3427
2.3508
2.3590

 Woodie's
-
2.2480
2.2900
2.3370
2.3790
2.4260
-

 DeMark's
-
-
2.3592
2.3271
2.2702
-
-