MTECHTIPS:- Natural Gas chops around on Thursday

Spread the love

MTECHTIPS:- Natural Gas chops around on Thursday

MTECHTIPS-Natural gas markets initially fell during trading on Thursday, reaching down to the $2.67 level before finding a bit of support. We bounce from there and reach towards the $2.70 level, an area that of course has a certain amount of psychological significance. If we can break above there, the market probably goes to the $2.73 level next, and then eventually the $2.75 level. I believe there is even more resistance at the $2.80 level, which has been structurally important in the past. I’m looking for signs of exhaustion to get into the market to the downside again, as we have seen sellers return every time we tried to pick up a bit of momentum. If we break down below the $2.60 level, the market should then drop to the $2.64 level, and then eventually we could drift down to the $2.60 level. There is a significant amount of support down to the $2.50 level, which I think being broken down below would be catastrophic for

MTECHTIPS-Apply For 2 Days Free Trails Equity & Commodity Tips