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
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.
