Natural Gas Analysis For The Week Of March 26, 2012

Last week looked promising for May Natural Gas following the previous week’s closing price reversal bottom, but even after a confirmation, the market could not follow-through to the upside. Early in the week, the market took out 2.468 to confirm the closing price reversal bottom at 2.306, but sellers came in at 2.502, slightly ahead of downtrending Gann angle resistance at 2.524. The inability to gather enough buying power to push through this price forced the market to turn sellers, driving natural gas lower for the week.Before getting too…

Read more...