Natural Gas Corner - Technical Update - Another Late Day Rally On Tuesday

A late day rally on Tuesday by today’s expiring December 15 natural gas contract moved it back toward unchanged after trading lower for most of the session.

The contract finished the session at 2.200 losing .010 on the day. 

The primary trend remains downs although two sell off attempts over the past 2 sessions have both reversed back higher by the close.

2.130 is the first area of support today followed the 2.051 contract low set earlier this week.  Longer term support is the 1.948 weekly low set in late-October.

2.210-2.230 is the first area of resistance today followed by the 10 day moving average at 2.270.

Technical Indicators:  Moving Average Alignment – Bearish

                                         Long Term Trend Following Index – Bearish

                                         Short Term Trend Following Index - Bearish