The natural gas markets drift a little bit lower during the day on Friday, testing the vital $3 level. A breakdown below that level should send this
The natural gas markets drift a little bit lower during the day on Friday, testing the vital $3 level. A breakdown below that level should send this market down to the $2.97 level, and then eventually down to the $2.92 level. This is a market that looks very negative, as the 24-hour moving average is starting to drift to the downside. I am a seller, and believe that we will see much lower pricing given enough time. Rallies continue to be selling opportunities from what I can see, as the oversupply of natural gas continues.
Chris is a proprietary trader with more than 20 years of experience across various markets, including currencies, indices and commodities. As a senior analyst at FXEmpire since the website’s early days, he offers readers advanced market perspectives to navigate today’s financial landscape with confidence.
