Natural gas may pivot higher
Natural gas had corrected during the first part of the week.
Commodity markets still remain stay in play amid geopolitical escalation in the Middle East and declining stockpiles: for example, we observe a consistent decline of Natural Gas in Henry Hub for several weeks in a row.
From a technical standpoint, Natural gas had bounced back from the intermediate-term resistance area of $3 per contract, but the market structure is still bullish, as there haven't been three full bearish candlesticks yet, and today we might observe a pullback as shown at the chart.
Manage risks and trade well!
Commodity markets still remain stay in play amid geopolitical escalation in the Middle East and declining stockpiles: for example, we observe a consistent decline of Natural Gas in Henry Hub for several weeks in a row.
From a technical standpoint, Natural gas had bounced back from the intermediate-term resistance area of $3 per contract, but the market structure is still bullish, as there haven't been three full bearish candlesticks yet, and today we might observe a pullback as shown at the chart.
Manage risks and trade well!
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