The natural gas markets rose during the course of the day on Friday, bouncing off of the lower part of the overall consolidation range. With this, the
The natural gas markets rose during the course of the day on Friday, bouncing off of the lower part of the overall consolidation range. With this, the $2.65 level looks as if it is going to offer support, and with this it’s very likely that the market is going to continue to go higher in the short-term. If we can break above the top of the range for the session on Friday, we could have a short-term buying opportunity, but we also recognize that there is a significant amount resistance closer to the $2.90 level, and an exhaustive candle up there could turn this whole thing around and make it a nice selling opportunity.
Natural Gas Forecast August 31, 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.
