Natural gas first rose during the Thursday session, only to get repelled at the top of the range. As a result, we saw a shooting star print for the day.
Natural gas first rose during the Thursday session, only to get repelled at the top of the range. As a result, we saw a shooting star print for the day. This very bearish candlestick only confirms that anytime this market rises, it will only fail, and fall. The bearishness should continue, and we are still advocating selling this market every time is rallies. The $3.75 should continue to be resistance, and above that is the $4 level as well. We are selling rallies at this point, and would also sell a break of the bottom of the Thursday shooting star.
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.
