Natural gas markets initially when higher during the day on Wednesday but have given back most of the gains. This shows the overall bearish pressure on the market has not given up, although we have a tropical storm heading towards Texas. Nonetheless, there’s an oversupply of natural gas, and I think that the $3 level above continues to be a massive resistance barrier. I believe that rallies continue to offer selling opportunities, and so far, that seems to be working out quite nicely. The $2.89 level below is the initial target.
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Natural Gas Price Forecast August 25, 2017, Technical Analysis
Natural gas markets initially when higher during the day on Wednesday but have given back most of the gains. This shows the overall bearish pressure on
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Christopher LewisSenior Analyst
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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