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Natural Gas Fundamental Analysis March 2, 2012, Forecast

Natural Gas Fundamental Analysis March 2, 2012, Forecast

WEEKLY

 

Analysis and Recommendations:

Natural Gas continues to fall. With excess inventory and winter almost over NG is looking for a place to sit for the next few months. Gas is trading at 2.478 falling from 2.587. Just a few weeks ago gas was hitting a low at 2.32, and is probably where it is headed to now.

The Energy Information Administration reported a decline in natural gas supplies by 82 billion cubic feet in the week ended Feb. 24. Analysts polled by Platts had expected a decrease between 90 bcf and 94 bcf for the week

The weather this weekend calls for light snow, but no cold fronts moving in and mostly rainy for the next week or two.

March 20121st-3rd. Light snow/flurries. Steadier, heavier snows along New England coast.4th-7th. Stormy, with significant snow accumulations possible Mid-Atlantic region, then clearing.8th-11th. Fair.12th-15th. Light rain, especially Pennsylvania, New York, then fair.16th-19th. Showers, heavy thunderstorms. Break out green umbrellas for St. Patrick's Day Parade in N.Y.C.

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Natural Gas Pivot Points (Time Frame: 1 Day)

 

Name S3 S2 S1 Pivot R1 R2 R3

Classic
2.2190
2.3255
2.3970
2.5035
2.5750
2.6815
2.7530

Fibonacci
2.3255
2.3935
2.4355
2.5035
2.5715
2.6135
2.6815

Camarilla
2.4196
2.4359
2.4522
2.5035
2.4848
2.5011
2.5175

Woodie's
-
2.3167
2.3795
2.4947
2.5575
2.6728
-

DeMark's
-
-
2.5392
2.4856
2.3613
-
-