Advertisement
Advertisement

Natural Gas Technical Analysis October 18, 2011

By:
Christopher Lewis
Updated: Jan 1, 2011, 00:00 UTC

Natural gas markets rose a bit during the Monday session, but then fell later in the session as the downtrend looks set to continue. The $3.75 level came

Natural Gas Technical Analysis October 18, 2011

Natural gas markets rose a bit during the Monday session, but then fell later in the session as the downtrend looks set to continue. The $3.75 level came into the picture as resistance, and held firm during the session. The market is decidedly bearish, and the days that this market pops like this tend to offer selling opportunities more than anything else. In fact, we have been recommending selling all rallies in the natural gas markets, and this market looks set to continue this pattern. The candle from the Monday session also shows indecision as it is a doji – a classic sign of real lack of conviction in the buying of this market.

About the Author

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.

Did you find this article useful?

Advertisement