Natural Gas Forecast December 12, 2016, Technical Analysis
The natural gas markets initially trying to rally on Friday but found enough resistance of the $3.75 level to turn around to form a bit of a shooting star. The shooting star of course is a negative candle, so it looks as if we could draw from here and reach towards lower levels in order to find support. A break above the top of the shooting star would send this market even higher. Ultimately, I believe that the market is overbought but there is enough bullish pressure underneath that buyers will trying to look for an opportunity to take advantage of value.