The natural gas market initially rallied during the course of the day on Wednesday, but found enough resistance near the $2.87 level to turn things back
The natural gas market initially rallied during the course of the day on Wednesday, but found enough resistance near the $2.87 level to turn things back around and form a shooting star. Ultimately, we believe that this market continues to go lower so we are sellers and we can break down below the bottom of the shooting star for the session. We believe that the market will then reach towards the $2.70 level, and possibly even lower than that. With this, we sell rallies as well, as we look at this is a horribly bearish market.
Natural Gas Forecast August 6, 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.
