Weekly

Weekly Commodity Outlook:-



HIGHLIGHTS:

Natural gas markets rallied significantly during the week, reaching towards the $2.80 level, an area that the market has rolled over from more than once. When you look at the weekly chart, you can see several failures at that area, and there’s likely going to be a bit of a push back there. However, if we break above the $2.82 level, the market could continue to go higher. Otherwise, if we roll over from here I think that the sellers could easily push this market back to the $2.70 level. As far as the longer-term trader is concerned, there’s more room to the upside right now than down, so a breakout could have longer-term traders looking towards the $3.00 level above.

Tags: Technical


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