The natural gas markets exploded to the upside during the course of the session on Wednesday, breaking above the $2.90 handle. However, there is a
The natural gas markets exploded to the upside during the course of the session on Wednesday, breaking above the $2.90 handle. However, there is a significant amount of resistance above, extending all the way to at least $2.95, and quite possibly $3.00. In other words, we are simply waiting to see whether or not we get a resistive candle to start selling. We have no interest in buying until we get well above the $3.00 level, something that would take quite a bit of momentum in order to happen. At this point in time, we believe that nothing has changed, and it’s only a matter time before the sellers reassert their control.
Natural Gas Forecast August 13, 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.
