Natural gas markets fell during the day on Wednesday, testing the lower reaches of the overall consolidation area. Because of this, we don’t have the
Natural gas markets fell during the day on Wednesday, testing the lower reaches of the overall consolidation area. Because of this, we don’t have the ability to sell this market right now, but a supportive candle would have us buying it. That being the case, we are simply waiting to see whether or not we get a supportive candle, or if we break down below the $3.80 level on a daily close. If we get that, we would be sellers and aiming for the $3.50 level. On the other hand, if we do rally, we would anticipate a move to the $4.10 handle.
Natural Gas Forecast October 9, 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.
