The natural gas markets initially fell during the day on Friday but found enough support at the 50-day exponential moving average, and of course more
The natural gas markets initially fell during the day on Friday but found enough support at the 50-day exponential moving average, and of course more importantly: the $3 handle. A breakdown below there should send this market lower, perhaps reaching to the $2.90 level, but we could bounce from here. If we do, I think that sooner rather than later the sellers will return and exhaustive candle will be a nice opportunity to start shorting. I have no interest in buying this market, although I do recognize that a bounce is very possible.
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.
