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
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.
