The natural gas markets exploded to the upside on Friday to end the week slightly higher. However, the trend is so far to the downside that we simply
The natural gas markets exploded to the upside on Friday to end the week slightly higher. However, the trend is so far to the downside that we simply cannot in good faith even suggest that the idea of going long is a wise one. We think that any bounce is an opportunity to sell from higher levels. The $4 mark should continue to be a resistive area, and we would be looking for signs of weakness in that area. We think that even if the bounce gets above that area, $42.5 will certainly be too much for this market to overcome. The market is to be sold only, and rallies with a hint of weakness at the end of them are perfect chances to sell.
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.
