The natural gas markets broke higher during the course of the day on Tuesday, and now looks like it’s ready to bounce a bit. If we bounce from here
The natural gas markets broke higher during the course of the day on Tuesday, and now looks like it’s ready to bounce a bit. If we bounce from here though, we believe that there is a significant amount of resistance at the $3.90 level as it was an area that has shown support in the past. That area should bring in sellers again, and as a result we believe that this bounce will simply be an opportunity to start selling this market yet again as natural gas continues to be very bearish overall. We have no interest whatsoever in buying.
Natural Gas Forecast October 29, 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.
