Trading Forecast Natural Gas

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April 27, 2011 4:53 PM EST

HY Markets

 
Natural Gas closed lower on Tuesday due to profit taking as it consolidated some of the rally off this month's low. The high-range close sets the stage for a steady to higher opening on Wednesday. Stochastics and the RSI remain bullish signalling that sideways to higher prices are possible near-term. If it extends the rally off this month's low, March's high crossing is the next upside target. Closes below the 20-day moving average crossing would confirm that a short-term top has been posted.
 

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