The natural gas markets
fell during the session on Friday as the massive up move on Thursday
prompted traders to take profits during the session. The $2.60 level was
the first level that we suggested there could be serious resistance,
and it does appear that the level has started to work against the price
of this market. The candle for the session is a bit of a doji, and as a
result we think a break to the bottom would be a big enough signal to
sell this down trending market. On a break higher, we are looking for
weak candles near the $2.80 and $3 levels.
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