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WEEKLY

 

Natural

Natural Gas Fundamental Analysis February 28, 2012, Forecast

Analysis and Recommendations:

Natural Gas plummeted to 2.611 on profit taking, and warmer weather forecast. As March rolls in winter rolls out. Gas has been in the news a good deal lately, with announcements from Chesapeake Energy with their future growth predictions along with news of more use of natural gas in the future and environmentalist concerns in regards to the process used to capture the gas. Inventories this week showed a drop as expected. Weather has been holding and winter is coming to an end along with the possible higher demand for NG. Natural Gas should bottom out over the next month.

Weekly losses for natural gas, which has been beset by a mild winter in most of the key consuming U.S. areas and ever-growing production from shale gas, reached 5%

We should see Gas continue to decline until it finds the bottom to sit on, falling as low as 2.36 is possible.

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The Possible Bottom for Natural Gas

Natural Gas Pivot Points (Time Frame: 1 Day)

 

Name S3 S2 S1 Pivot R1 R2 R3

Classic
2.4460
2.5315
2.5860
2.6715
2.7260
2.8115
2.8660

Fibonacci
2.5315
2.5850
2.6180
2.6715
2.7250
2.7580
2.8115

Camarilla
2.6020
2.6148
2.6277
2.6715
2.6533
2.6662
2.6790

Woodie's
-
2.5238
2.5705
2.6637
2.7105
2.8038
-

DeMark's
-
-
2.6988
2.6579
2.5587
-
-