The Dec'09 NATURAL GAS contract bounced off support producing a positive corrective signal and is currently in a
BEAR TREND CORRECTIVE technical state. Expectations are for the MKT to remain vulnerable to the downside with all trading below the
4.446 Inflection Pivot. This is the high point for any positive action today if the underlying negative momentum is going to keep the sellers engaged. A breach of this resistance and the MKT transitions into a digestive trade with
4.713 the high point for any new consolidation. Expect no follow through. Only above this price point does the technical structure shift targeting
5.170 and
5.271.
A break under
4.192 and the BEARS are back probing lower with
4.002 and
3.865 the initial targets for any resumption of the negative momentum.
3.663 is the extended target.
Good Trading
JS
For more information please contact me at info@jsservices.com. You can also visit http://www.jsservices.com/.The Inflection Pivot levels are available as a chart overlay on the following platforms; Ninja trader, Strategy Runner and eSignal. Sign up for a Complimentary FREE Trial.
