Natural gas markets rose during the Tuesday session after printing a hammer on Monday. The market looks set to bounce from the $3 level, and this looks as
Natural gas markets rose during the Tuesday session after printing a hammer on Monday. The market looks set to bounce from the $3 level, and this looks as if it is the start. The $3.25 level was the site of a gap down, and we think that letting the market rise at least to that level before shorting again will be the prudent thing to do. The 50 day moving average is sloping quite nicely to the downside, so we are not willing to get long of this market. The supply is far too strong for the demand to create any major move up, and the market is a “sell only” one. With this in mind, we wait for another opportunity to sell.
Natural Gas Forecast December 21, 2011, 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.
