Daily Forecast - 28 January 2015
Nat Gas February contract
Natural Gas February immediate support at 2855/45 then the 4 week low of 2805-2766. A break lower this week is obviously negative & targets 2720/15. Any further losses could reach 2680/70 & perhaps as far as 2650/45. Below here risks a slide to 2575.
Holding above 2855 re-targets 2950/60 & perhaps a re-test of resistance at 2990/3000. A good chance of a high for the day again today, but if we continue higher look for a selling opportunity at 3055/60 with stops above the gap at 3080. Be ready to go with an unexpected break higher however using 3055/60 as support to target resistance at 3125/30. On any further gains look for a selling opportunity at 3200/3220 with stops above 3245/50.
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