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.
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.
