The natural gas market rallied on Thursday, despite the fact that the inventory numbers came out much larger than expected. The market is still very
The natural gas market rallied on Thursday, despite the fact that the inventory numbers came out much larger than expected. The market is still very bearish, but the pop could continue to rise from the $3.50 level, which is a large psychological number. The area shouldn’t necessarily be a major support area, but every time you approach a “50 cent” level, it is common to be a reaction. However, the consolidation that broke down previously suggested that we could be heading as low as $3 in the end. As a result, we sell rallies, and do not buy this market at all.
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.
