Natural gas markets initially fell during the day on Thursday but found enough support to turn around for a hammer. I think this means that we will make
Natural gas markets initially fell during the day on Thursday but found enough support to turn around for a hammer. I think this means that we will make another move towards the three dollars level but I expect to see significant selling pressure there. Alternately, if we can break down below the bottom of the hammer for the session on Thursday, that would be an extraordinarily bearish sign. I am still negative when it comes to natural gas longer-term, and I believe that the oversupply issues will remain. Beyond that, spring is coming in the northeastern part of the United States and that will drive down demand as well.
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.
