Natural gas markets initially rose during the week, but found enough resistance near the three dollars level to turn around and form a shooting star. The
Natural gas markets initially rose during the week, but found enough resistance near the three dollars level to turn around and form a shooting star. The shooting star sits just above the $2.85 level, and I believe that a move below there signals that we are going to go to the $2.75 handle after that. There is hurricane coming over the weekend towards several natural gas pipelines, so there are a few unknowns going forward, but overall the natural gas markets are oversupplied, and that should continue to be the case going forward. Longer-term, this market looks likely to go reaching towards the $2.50 level.
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.
