MTECHTIPS;-Natural Gas Price Forecast – natural gas markets bounce

MTECHTIPS;-Natural Gas Price Forecast – natural gas markets bounce MTECHTIPS-Natural gas markets broke above the $3.20 level during the trading session on Tuesday, reaching towards the $3.28 handle. By pulling back the way we have from there, it shows that we are starting to struggle a little bit, but the hammer from the Monday session I think is the signal that we are looking to break below before selling with any type of conviction. It does look as if the market is starting to roll over a bit, which of course shows signs of failure at extraordinarily high levels, and keep in mind that the United States has an outsized effect on this market. If we get a mild winter, and some people are calling for that, that should cause natural gas markets to continue to fall a bit If we break down below the hammer from the Monday session, that should open the door towards the $2.90 level underneath. Ultimately, if we can break above the top of the candle stick for the trading session on Tuesday, that then would open the door to the $3.40 level where we have seen extraordinarily large amount of selling pressure build up. I think the one thing you can count on in this market is a lot of sideways chop, which makes sense as we are trying to move upon the unpredictable weather patterns. This is seasonally strong trading under normal circumstances but watch this weather reports in the United States and of course the inventory numbers MTECHTIPS-Apply For 2 Days Free Trails Equity & Commodity Tips WWW.MTECHTIPS.COM 07489294118-119
Published on Oct 31 2018 1:42PM, by MTECHTIPS in Commodity tips| Share This




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