Throughout the course of the week, natural gas markets have dropped to the $2.00 level. Despite this, it appears that we could experience a short-term uptick.
Although we are now well below the $2.50 barrier, the natural gas markets continue to be plagued by a lot of negativity.
Monday’s trading day began with a decline in natural gas prices, but the markets soon showed signs of life again. By doing so, the market appears to be attempting to achieve the above-mentioned key moving averages.
We continue to observe a great deal of erratic behavior on the natural gas markets throughout Thursday’s trading day.
During the week, natural gas markets attempted to rally, but ended up producing a gigantic, inverted hammer at the bottom of a massive move preceding it.
Tuesday’s trading session witnessed a little natural gas market rally, as we were somewhat oversold to the negative.
The natural gas market has stabilized somewhat during the trade week, as we are hovering near the 50-Week Exponential Moving Average.