The natural gas markets as you can see tried to rally during the course of the day on Wednesday, but found the $4.20 level to be a bit too resistive,
The natural gas markets as you can see tried to rally during the course of the day on Wednesday, but found the $4.20 level to be a bit too resistive, turning this market back around in forming a shooting star. The shooting star of course suggests that the market is ready to fall from here, and we believe that a pullback from here should send this market down to the $3.90 region as it is the bottom of the consolidation area that we have been in for some time. However, if we broke out above the $4.20 level, we feel that this market would in fact go to the $4.40 level.
Natural Gas Forecast October 2, 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.
