The natural gas markets initially tried to rally during the course of the week, but found the $2.90 level above to be a bit too resistive to continue
The natural gas markets initially tried to rally during the course of the week, but found the $2.90 level above to be a bit too resistive to continue going higher. Because of this, it looks as if the markets will continue to see bearish pressure, but quite frankly the $2.60 level below should be massively supportive. In other words, we feel that longer-term traders will probably continue to be stymied by this marketplace. Rallies on short-term charts could be selling opportunities, but beyond that there isn’t much in the way of trading opportunities at the moment.
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.
