The natural gas markets tried to rally initially on Thursday, but looks as if the market was facing far too much resistance above to continue going
The natural gas markets tried to rally initially on Thursday, but looks as if the market was facing far too much resistance above to continue going higher. The $3.00 level underneath continues to be supportive and if we can break below there it would be a very negative sign. At that point in time, I would be a seller underneath, reaching towards the $2.90 level. If we can break below there, the market should then go looking for the $2.75 level. I have no interest in buying the natural gas markets, as we have far too much in the way of supply.
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.
