Natural Gas Forecast August 10, 2015, Technical Analysis

The natural gas markets as you can see went back and forth during the course of the session on Friday, essentially settling for a slight decline. We believe that rallies will continue to be selling opportunities, so we are looking for resistive candles above in order to start selling again. We believe that the market will then head towards the $2.65 level given enough time, and as a result we believe that short-term sell orders will continue to be filled. We believe that the $2.95 level above is massively resistive and will keep this market soft.