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
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.
