By FXEmpire.com
The natural gas markets fell during the previous five sessions, and the $2.80 level looks as if it has repelled buyers, helped undoubtedly by the fact that the $3 level above is going to be highly resistive.
The trend is obviously bearish, so we like taking this signal as an expression of true market sentiment. The commodity is obviously is bearish overall, and as a result we don’t buy it at all. In fact, until we close above the $3 level, we simply don’t look for the opportunity to buy. However, rallies are faded on signs of weakness, and new lows embraced with selling positions. We are selling a break of the lows from last week, as it should signal continued weakness.
Click here for further Natural Gas Forecast.
Originally posted here
