Natural gas markets fell rather hard during the course of the session on Thursday, testing the 2.72 region. However, we bounced enough to break much
Natural gas markets fell rather hard during the course of the session on Thursday, testing the 2.72 region. However, we bounced enough to break much higher and formed a wicked hammer. Quite frankly, we feel this market is waiting to see what the employment situation in America is, because it has such a large effect on the US dollar and of course demand for energy. With this, we believe that eventually we will get some exhaustion above, and we will start selling at that point in time. We believe that the “ceiling” in this market is somewhere near the 2.95 handle.
Natural Gas Forecast August 7, 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.
