Natural Gas Futures—Natural gas futures in the June contract is trading lower for the 5th consecutive session down another 5 points at 2.57 breaking major resistance as prices look to head even lower in my opinion.
At the present time I don’t have any recommendations in the energy sector, but if you are long a futures contract it is time to exit and move on in my opinion as major support has been breached on the daily, weekly, and monthly chart as the next major level of support is all the way down around the 2.40 level.
Gas prices are trading under their 20 and 100 day moving average as clearly the trend is to the downside as inventories have been rising in recent weeks as that is putting pressure on prices in the short term.
The volatility in natural gas still remains relatively low as we continually grind lower on a weekly basis, but at this point in time I see no reason to be a buyer of this commodity.
CHART STRUCTURE: POOR
If you are looking to contact Michael Seery (CTA—COMMODITY TRADING ADVISOR) at 1-630-408-3325 I will be more than happy to help you with your trading or visit www.seeryfutures.com
Skype Address: 5da1f85979b7117b
FREE TRIAL FOR THE LIMIT UP COMMODITY NEWSLETTER
If you’re looking to open a Trading Account click on this link www.admis.com
Click on Members Login—-Username—coffeeshop
Click login and then click on Blog and click on the title of the story to read—Mike 630-408-3325
Click on my live chat so we can talk as well
There is a substantial risk of loss in futures and futures options. Furthermore, Seery Futures is not responsible for the accuracy of the information contained on linked sites. Trading futures and options is Not appropriate for every investor.