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Natural Gas forecast for the week of February 27, 2017, Technical Analysis

By:
Christopher Lewis
Updated: Feb 25, 2017, 05:44 UTC

The natural gas markets initially fell during the week but found enough support just below the $2.50 level to turn around and form a hammer. I believe

Natural gas weekly chart, February 27, 2017

The natural gas markets initially fell during the week but found enough support just below the $2.50 level to turn around and form a hammer. I believe that we are going to see a bit of a bounce here, but that bounce will only end up being a nice selling opportunity in the end. Alternately, if we can break down below the bottom of the hammer, the market should then reach towards the $2.25 level. Even if we do get this bounce, I have no interest trying to buy this market.

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About the Author

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.

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