The natural gas markets went back and forth during the course of the session on Wednesday, as the $2.70 level offered support. That being the case, we
The natural gas markets went back and forth during the course of the session on Wednesday, as the $2.70 level offered support. That being the case, we feel that a bounce is probably coming, and as a result we would be buyers on a break above the top of the range for the session on Wednesday. We believe that the market should then go higher, heading towards the $2.90 level. Ultimately, this market will continue to show significant consolidation overall. At this point in time, it makes sense that the market continues to consolidate just simply because we are at the back half of the summer season.
Natural Gas Forecast August 20, 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.
