Natural Gas forecast for the week of August 17, 2015, Technical Analysis

The natural gas markets initially tried to rally during the course of the week, but found enough resistance near the $2.95 level to turn things back around and form a massive shooting star. This suggests that the market is going to go lower, but at this point in time we do not think that there is enough room for longer-term traders to get involved. We think that this is more or less a short-term traders market at this point in time, and as a result we are sitting on the sidelines as far as long-term trades are concerned.