By FXEmpire.com
Natural gas markets had an interesting day on Wednesday as a massive surge of bullish pressure was counteracted with extreme resistance at the three dollar area. We had recently been talking about this entire area between $2.90 and three dollars, and now that we have a pro should we have a resistive candle from which to sell. This is the exact type of setup that we were talking about.
Looking at the charts, it seems as if we could see a serious fall in this market down to the $2.20 level. Don’t misunderstand us, this very likely going to be choppiness on the way down as there are plenty of areas that people have bought at. Nonetheless, we are sellers of natural gas in general, and as such welcome this signal and will sell on a break of the Wednesday lows.
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Originally posted here
