Tuesday, October 23, 2012

Natural Gas‏ (Nov 12 - NYMEX) ST: as long as 3.23 is support look for 3.92


3.23 is our pivot point.
Our preference: as long as 3.23 is support look for 3.92.
Alternative scenario: below 3.23, expect 2.96 and 2.8.
Comment: the RSI is above 50. The MACD is below its signal line and positive. The price could retrace in the short term. The price is trading under its 20 day MA (3.45) but above its 50 day MA (3.06).

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