Natural gas markets did almost nothing during the course of the day on Thursday, after gapping lower. This is a market that has no momentum to the upside
Natural gas markets did almost nothing during the course of the day on Thursday, after gapping lower. This is a market that has no momentum to the upside as far as we can see, and we remain short. We believe that ultimately this market reaches down to the $2 level, and that any rally between now and then should be a selling opportunity. The supply is far too strong for the demand, and that should continue to be the case going forward. On top of that, we have a strengthening US dollar working against commodities in general.
Natural Gas Forecast November 27, 2015, Technical Analysis
Being FXEmpire’s analyst since the early days of the website, Chris has over 20 years of experience across various markets and assets – currencies, indices, and commodities. He is a proprietary trader as well trading institutional accounts.
