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
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.
