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Natural Gas forecast for the week of September 4, 2017, Technical Analysis
Updated: Sep 2, 2017, 05:19 GMT+00:00
Natural gas markets initially fell during the week but found enough support at the $2.85 level to turn around and rally significantly. The break above the
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Natural gas markets initially fell during the week but found enough support at the $2.85 level to turn around and rally significantly. The break above the $3 level is a bullish sign, but it’s not until we clear the $3.10 level that I would feel comfortable buying from a longer-term perspective. Most of this is short term noise due to hurricane Harvey, and because of this I would be a bit hesitant to get bullish for any real length of time. We could get a pop to the $3.25 level, but I also expect a lot of selling pressure in that region.
NATGAS Video 04.9.17
About the Author
Christopher Lewisauthor
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.
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