Natural Gas Price Forecast August 30, 2017, Technical Analysis

Natural gas markets had a volatile session on Tuesday, reaching towards the $2.98 level, but falling back towards the gap. Overall, I am still bearish and natural gas, but I recognize that the hurricane Harvey hit on Texas will have an effect on transporting that gas, and could be short-term bullish. I believe that the $3 level above is massive resistance, and therefore I’m willing to short this market every time we get close to that area. I think that eventually we will drop to the $2.85 level, but currently there is a lot of volatility in a relatively thin market as most traders are away at holiday.

NATGAS Video 30.8.17