The natural gas markets fell during the session initially on Tuesday to fill the gap for Monday. We did find enough support at the $2.80 level to turn
The natural gas markets fell during the session initially on Tuesday to fill the gap for Monday. We did find enough support at the $2.80 level to turn things back around low, and form a hammer. With this, we feel that the market could bounce a bit from here, but the $2.90 level is massively resistive, so we are actually going to wait to see whether or not we get a resistive candle to start selling. A break below the bottom of the hammer would also be a selling opportunity as well, and as a result we have no interest whatsoever in buying.
Natural Gas Forecast August 12, 2015, Technical Analysis
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.
