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
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.
