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MTECHTIPS;- Natural Gas rolls over in early Monday trading

Tuesday, April 24, 2018 0:23

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MTECHTIPS;- Natural Gas rolls over in early Monday trading

MTECHTIPS- Natural gas markets went sideways initially during the trading session on Monday, but then started to roll over as the Americans came on board. We reached towards the $2.70 level, and I think we will probably go lower than that The natural gas markets initially went sideways during the trading session on Monday, but then broke down towards the $2.70 level. That’s an area that should offer a bit of support, but I think it’s short-term at best. I think that a breakdown below the $2.70 level should send this market lower and perhaps down to the $2.66 level, and of course there is support below there. I think that the best way to trade this market is to find some type of oscillators such as the stochastic oscillator, and employee a range bound trading system going back and forth. I think that the $2.60 level underneath is massive as support extending down to the $2.50 level, and from a longer-term standpoint if we were to break down below those levels, it would be extraordinarily negative. Ultimately, I think that selling rallies will continue to be one of the better ways to play this market, but I do recognize that the short-term futures trader can also go back and forth and take advantage of these ranges that give us an opportunity to benefit from such an obvious range. While not the most exciting way to trade, it is one of the more profitable ones, when you find a nice range to bounce around and take advantage of. I expect to see plenty of bearish pressure above, because the oversupply natural gas continues to be very troublesome, and I think that we will continue to see more momentum to the downside then up, but of course there will be the occasional bounce that those who are bit nimbler will take advantage

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