The natural gas markets initially tried to rally during the course of the session on Monday, but found so much resistance near the $2.80 level that we
The natural gas markets initially tried to rally during the course of the session on Monday, but found so much resistance near the $2.80 level that we turned back around to form a shooting star. With this, we are sitting just above the $2.70 level, and look ready to go lower. We believe that selling rallies will be the way to go going forward, just as selling a break below the $2.70 handle. Either way, we are bearish and have no interest whatsoever in buying this market as the downtrend has been so strong in the longer-term charts, and we believe the supply simply outweighs the demand.
Natural Gas Forecast August 4, 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.
