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Natural Gas Price Forecast September 4, 2017, Technical Analysis
Updated: Sep 2, 2017, 05:16 GMT+00:00
The natural gas markets went sideways initially on Friday, but then fell towards the $3 level. This is an area that should be supportive, and in fact was
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The natural gas markets went sideways initially on Friday, but then fell towards the $3 level. This is an area that should be supportive, and in fact was as we bounced significantly. We pulled back from there, and I think that the volatility continues. Ultimately, I believe that the market will find sellers, because of the longer-term outlook for natural gas. However, and the short-term there seems to be plenty of buying pressure due to the situation with hurricane Harvey. Eventually, I believe the sellers will come back, as the $3.10 level continues to be massive resistance. Short-term buying, long-term selling is how I feel about this market.
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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