Waiting for the big Kahuna Message Board

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Strategies & Market Trends : Waiting for the big Kahuna

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To: ayn rand who wrote (90257)	9/9/2009 1:23:46 PM
From: Peter V	Read Replies (1) of 94695

May as well post their analysis. We crossed the first resistance point, NG at 2.925 right now: October Henry natural gas was steady to slightly higher overnight as it extends the rebound off last week's low. Stochastics and the RSI have turned bullish signaling that additional short covering gains are possible near-term. However, closes above the 20-day moving average crossing at 3.126 are needed to confirm that a short-term low has been posted. If October renews the late-summer decline, weekly support crossing at 1.960 is the next downside target. First resistance is the 10-day moving average crossing at 2.826. Second resistance is the 20-day moving average crossing at 3.126. First support is last Friday's low crossing at 2.409. Second support is weekly support crossing at 1.960.

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