Natural
Natural Gas Fundamental Analysis February 16, 2012, Forecast

Natural Gas Fundamental Analysis February 16, 2012, Forecast

Economic Events: (GMT)

WEEKLY

 

Analysis and Recommendations:

Natural Gas is down after opening at 2.544 NG has dropped to 2.429.

As the winter days wind down and as weather forecasters continue to be wrong about cold fronts hitting the North East and worries about inventories due on Thursday, investors were selling as NG kept searching for a bottom. It is destined to find that 2.36 level of earlier this month.

Yesterday Chesapeake Energy announced it would be selling off appx 12billion dollars of assets. NG is predicted to be the energy of the future, replacing coal, but that is still along way off, their might be future demand but at present there is little demand for available inventories.

Natural Gas Pivot Points (Time Frame: 1 Day)

 

Name S3 S2 S1 Pivot R1 R2 R3

Classic
2.1630
2.2765
2.3550
2.4685
2.5470
2.6605
2.7390

Fibonacci
2.2765
2.3498
2.3952
2.4685
2.5418
2.5872
2.6605

Camarilla
2.3807
2.3983
2.4159
2.4685
2.4511
2.4687
2.4863

Woodie's
-
2.2677
2.3375
2.4598
2.5295
2.6517
-

DeMark's
-
-
2.5078
2.4489
2.3157
-
-