The natural gas markets tried to rally initially during the course of the day on Thursday, but found the market a bit too resistive in turn back around
The natural gas markets tried to rally initially during the course of the day on Thursday, but found the market a bit too resistive in turn back around and formed a shooting star. Because of this, it appears that the market is going to continue to try to go down from here, but we do recognize that the $3.80 level below should be supportive overall, and as a result a break below there on a daily close would be a nice selling opportunity for us. As far as buying is concerned, we would only do so on a break above the top of the shooting star from the Thursday session.
Natural Gas Forecast October 10, 2014, Technical Analysis
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.
