The natural gas markets fell significantly on Friday, breaking below the $2.70 level. However, there is a significant amount of support all the way down
The natural gas markets fell significantly on Friday, breaking below the $2.70 level. However, there is a significant amount of support all the way down to the $2.60 level, so although we think this market probably falls, it is going to be very difficult to start shorting. We believe that any rally at this point in time is probably what you need to see in order to start selling as signs of resistance will present themselves. The $2.60 level below is massively supportive and the bottom of the larger consolidation region that we have been stuck in for the entire summer.
Natural Gas Forecast August 24, 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.
