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.
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.
