Friday, October 19, 2012

Natural Gas‏ (Nov 12 - NYMEX) ST: as long as 3.36 is support look for 4.09


Our pivot point stands at 3.36
Our preference: as long as 3.36 is support look for 4.09.
Alternative scenario: the downside breakout of 3.36 would call for 3.07 and 2.91.
Comment: the RSI is above its neutrality area at 50. The MACD is below its signal line and positive. The price could retrace in the short term. The price is trading above both its 20 and 50 day MA (respectively at 3.39 and 3.03).


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