The natural gas markets fell precipitously during the week, using the $3 level as a bit of a “ceiling” in the market. I think that the market will
The natural gas markets fell precipitously during the week, using the $3 level as a bit of a “ceiling” in the market. I think that the market will continue to struggle, as we should see the $2.85 level challenge, and if we can break down below there, the market should then go to the $2.75 level. A clear below that level would send this market to the $2.50 level handle which is my longer-term target. I think that the oversupply of natural gas continues to be very negative, and therefore think that the overall attitude the market should remain very bearish.
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.
