Natural gas continues to fall as the last week has seen quite the selloff in this obviously bearish market. The supply far outweighs the demand in this
Natural gas continues to fall as the last week has seen quite the selloff in this obviously bearish market. The supply far outweighs the demand in this economy, and the technicals are obviously broken down. With this in mind, buying this market isn’t even an option. Selling at this level for a long-term trade might be a bit difficult as it is certainly oversold, but selling the rallies could be the way to go. We like selling any returns to the $3.50 level as well as $4 if we can rally that far. Selling at this level would simply be chasing the trade.
Natural Gas Forecast for the Week of December 19, 2011
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.
