By FXEmpire.com
The natural gas markets rallied on Friday as the short covering rally continued. The market is extraordinarily weak at the moment, and as a result we don’t buy under any circumstances. The 50 day exponential moving average is just above, and the market has been respecting it for some time now. Because of that, we are willing to be patient and sell rallies as they come, on the first real signs of weakness. Yesterday’s hammer would have been a great sign to sell – but we simply didn’t get the breakdown needed in order to confirm it. We see both the $2.20 and $2.40 levels as likely candidates for selling opportunities.
Click here to read Natural Gas Technical Analysis.
Originally posted here
