Natural gas markets fell on Friday, finding a little bit of support at the $3.70 level. Because of this, we ended up forming a hammer, which of course is
Natural gas markets fell on Friday, finding a little bit of support at the $3.70 level. Because of this, we ended up forming a hammer, which of course is a fairly positive sign. If we can break the top of the hammer, we could reenter the previous consolidation area, but we believe more than likely that any bouncer here will find enough selling pressure to turn things back around and had lower. With that, we are selling rallies the show signs of support, and most certainly selling a break of the lows for the session on Friday.
Natural Gas Forecast October 20, 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.
