Natural Gas has struggled at 3.965-3.976 for the past 3 days. We had warned the market should run out of momentum here but we do need a stop loss on shorts above 4.050 for 4.413/414 as the next upside target.
Failure to break higher in this severely over bought market should see us drift back to 3.924/917. Bears need the market back below here or we risk another move towards this week's high. If we do continue lower, look for another test of 3.869/855 support & a good chance of a low for the day again. However a break of 3.834 could keep the pressure on for excellent support and a buying opportunity at 3.778/777.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
