Natural gas markets initially tried to rally during the Tuesday session but fell flat and ended up falling towards the $3.04 level. The 50 day and the
Natural gas markets initially tried to rally during the Tuesday session but fell flat and ended up falling towards the $3.04 level. The 50 day and the 100-day exponential moving averages are just above, and that of course is a negative sign. More importantly though, I see the $3 level underneath as being massively supportive so I think a breakdown below there would trigger a lot of selling. A break above the top of the 2 moving averages I have on the chart could be a bullish sign, but I would expect that it would run into quite a bit of noise above.
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.
