Natural Gas Analysis For The Week Of March 12, 2012

Last week May Natural Gas took out its last swing bottom at 2.527. The move not only resumes the downtrend, but it also indicates further downside pressure is likely. Additionally, a new main top was formed at 3.015. A trade through this price will change the weekly main trend to up. In addition to the bearish swing chart, natural gas is also trading inside of a bearish channel down chart pattern. This channel will control the short-term direction of the market as long as the downtrending Gann angle at 2.604 this week remains intact. On the support…

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