The natural gas markets rose during the session on Wednesday after initially falling on signs of risk aversion. The resulting candle is a hammer, and it
The natural gas markets rose during the session on Wednesday after initially falling on signs of risk aversion. The resulting candle is a hammer, and it does look like we are seeing the support that we needed in order to go long again. On a break of the highs from the Wednesday session, we feel that this market will more than likely target of $3.80, and possibly even $4.00 before it’s all said and done. With this in mind, we are still bullish of the natural gas markets and feel that the selloff may have been a bit overdone. As for selling, we need to break below the $3.40 level in order to do so.
Natural Gas Forecast December 6, 2012, 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.
