The natural gas markets had a slightly bullish and supportive day as the $2.40 level has held. It should be noted that we moved forward to the May contract at this point, and as such the levels are going to be slightly different.

The $2.60 level above looks resistive, as does the $3 level. We are sellers of this market only, and will continue to be going forward. We like the idea of selling rallies that show weakness at these levels, and as such will simply wait to add to our positions.

Natural

Natural Gas Forecast March 22, 2012, Technical Analysis

Natural Gas Pivot Points (Time Frame: 1 Day)

 Name  S3  S2  S1  Pivot  R1  R2  R3

 Classic
2.2070
2.2500
2.2950
2.3380
2.3830
2.4260
2.4710

 Fibonacci
2.2500
2.2836
2.3044
2.3380
2.3716
2.3924
2.4260

 Camarilla
2.3158
2.3239
2.3319
2.3380
2.3481
2.3561
2.3642

 Woodie's
-
2.2505
2.2960
2.3385
2.3840
2.4265
-

 DeMark's
-
-
2.4045
2.3487
2.3165
-
-