Natural Gas March Contract - Forecast for 02/05 by Daytradeideas.com
By Jason Sen | February 6, 2013 12:54 AM EST
Nat Gas has been stuck in a range for 4 sessions now. Resistance at 3.374/386 with 3.258/240 acting as support. A break lower should target last week’s low at 3.215/207. Below here we hit strong support from the 5 month trend line at 3.185 which should see us bounce but a break could keep the pressure on for 3.122 then 3.087.
3.374/386 remains resistance today but if we break last week’s high at 3.396 we should close the gap towards 3.426 and top out here. We can exit any longs here and try shorts with a stop above 3.445.
The article was first published by DayTradeIdeas.com