Natural Gas Forecast December 12, 2016, Technical Analysis
Updated: Dec 12, 2016, 10:41 UTC•1min read
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
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EUR/USD
$1.07641
+0.03%
Bitcoin
$41,211.23
-5.46%
S&P 500
$4,622.44
+0.39%
Natural Gas
$2.329
-0.56%
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.
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