Analysis and Recommendations:
Natural Gas has dropped to 2.357 falling almost .05 today. Natural Gas, bottomed, falling as low as 2.352 opening at 2.401. NG has dropped from the high of 2.807 just two weeks ago. Natural Gas is right back where it started on February 1, 2012, when the markets started to inflate.
It is very rare that the FXEmpire team hits a home run, we usually make it to first base, often hit a groundball double, sometime a solid 3 bagger, but an out of the park homerun is unusual. Our overall goal is to provide our readers with accurate information and forecasts, without predicting the markets. The FXEmpire team analyzes data and fundamental information, so that our readers, that do trade have valuable non biased information. Over the past few weeks we have continued to review our analysis and have predicted that Natural Gas will plummet seeking a bottom in the 2.36 range. Since February 29th, we have been forewarning our readers that this drop was coming, We have been continuously informed our visitors that there were no real reasons to support the upswing in Natural Gas and as it climbed near the 2.80 level, our team published an article saying that this was crazy. So every now and then, it is nice to be able to brag and say we called this one right.
Economic Events: (GMT)
- Heating Oil & Propane Update (October-March) Heating Oil, Propane Residential and Wholesale Price DataRelease Schedule: Wednesday at 1:00 p.m. EST
- Weekly Coal ProductionRelease Schedule: Thursday by 5:00 p.m. EST
- Weekly NYMEX Coal FuturesRelease Schedule: Monday by 5:00 p.m. EST
- Natural Gas Weekly UpdateRelease Schedule: Thursday between 2:00 and 2:30 p.m. (Eastern Time)
- Weekly Natural Gas Storage ReportRelease Schedule: Thursday at 10:30 (Eastern Time) (schedule)
Natural Gas Pivot Points (Time Frame: 1 Day)
Name S3 S2 S1 Pivot R1 R2 R3