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Natural Gas Price Forecast – Natural Gas Markets Rally to Kick Off the Week

From fxempire.com

{video} Natural gas markets have rallied a bit during the trading session on Monday, as it looks like we are trying to support the bottom of the overall range. Ultimately, the $2.00 level underneath is an area that has been a major bottom a couple of times, and therefore it’s likely that we have seen the bottom of the overall summer range that the market tends to fall into, and therefore I think the market will continue to see a lot of support. Looking at this chart, the 50-Day EMA sits just above and near the $2.45 level, offering a small resistant barrier. If we can break above there, then the market could go all ... (full story)

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  • Category: Technical Analysis