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Natural Gas forecast for the week of May 1, 2017, Technical Analysis

By:
Christopher Lewis
Updated: Apr 29, 2017, 04:44 UTC

The natural gas markets initially fell but found enough support near the $3 level to turn things around and break much higher. On top of that, we broke

Natural gas weekly chart, May 01, 2017

The natural gas markets initially fell but found enough support near the $3 level to turn things around and break much higher. On top of that, we broke above the $3.25 level, which is a psychological barrier. However, longer-term traders will have to be aware of the $3.33 level, and a break above there is needed for the longer term traders to hold onto a bullish move in the natural gas markets. This is probably more suited for short-term traders at the moment, although it certainly looks bullish.

NATGAS Video 01.5.17

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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