FX.co ★ NATURAL GAS (#NG) Time to Buy January 6, 2012 (Weekly Strategy)

NATURAL GAS

Natural gas futures are trading at $3,014 per million British thermal units during the American session, trading at a very small range, we have a very strong support - 2.937. At this time I recommend you to buy, because the macroeconomic indicators show a possible increase in the price of natural gas.
If you look at the chart, natural gas has left a gap in the week of December 12, there can be a close of that gap before the pair continues its downward trend. Thus we will place short-term in the weekly resistance of 3,383.
On the other hand, the Momentum indicator and range are showing oversold, signaling a possible rebound.