Natural Gas Corner - Technical Update - Bearish Signals Heading Into Today's Trade

The new front month March 16 natural gas contract has been trading in a sideways to higher trend over the past 7 day holding under 40 day moving average resistance.

With moving average resistance holding, the primary trend remains sideways to down heading  into today’s trade.

The 2.080 low set two weeks ago is the first area of  support followed by 1.980-2.000.  If 1.980 support is broken, the 1.910 contract low set two weeks ago will become the next downside objective.

Bottom Line – Early signs point toward continued weakness today following release of the EIA weekly storage report.

Technical Indicators:  Moving Average Alignment – Bearish

                                         Long Term Trend Following Index – Bullish

                                         Short Term Trend Following Index - Bearish